The Consumer Group Scheme aims at issuing loans to employed persons whose employers have executed collective guarantee agreement with the Bank.
Under this scheme the employer will execute a Guarantee Agreement with the Bank to guarantee remittance of its employees’ loan installments to the Bank periodically.
The individual applicant (i.e. the employee) apart from monthly salary, he/she will not be required to provide any tangible collateral.
- Easy to obtain from our existing wide network of branches all over the country
- No tangible security is needed
- Affordable and competitive interest rates
- The loan is insured against death or permanent disability
- An opportunity to top-up after making good repayment for a certain period of time
- Longer repayment period of up to 72 months depending on the terms of the Guarantee Agreement