Loan
This loan product will be offered to civil servants, TSC members, and employees of reputable organizations approved by the Board, to finance purposes such as Asset acquisition e.g. household items, solar panels etc. Emergency needs such as school fees, medical bills etc.
Requirements
- Loan size 10,000-100,000/=
- Repayment Period 3 to 24 months.
- Loan Processing period within 24 hours
- Frequency of payment- Monthly
- Very low interest rates
Key Features
- Must be a civil servant, an employee of organization with a Memorandum of understanding with CMFB approved by the management and the board.
- Salary must pass through an account with ChoiceMFB and routed for about 3 months prior to loan application and continues processing the loan through CMFB.
- A letter from employer committing to remit salary through Choice MFB account for the duration of the loan.
- Chattels and Affidavit for pledges where applicable.
- Guarantee of 2 fellow colleagues processing the salary through CMFB.
