Pensioners' loans (Wastaafu Loans) are loans issued to retirees or pensioners where their future pension payments are used as collaterals.

Under this type of loan, the pensioner will receive a lump sum of money repayable by certain amount of his/her pensions and/or other reliable sources of income like rent income with valid lease agreements, viable businesses etc

This credit programs currently covers pensioners from PPF, PSPF, LAPF, HAZINA NSSF and ZSSF.

Benefits

• No tangible security is needed
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• Assists retirees to increase working capital for their small and medium business projects
• Enables retirees to obtain capital funds for establishing small businesses
• Provides finance to support retirees unfinished building projects
• Enables pensioners to pay schools fees for their children and grandchildren
• Provide finance to retirees for medical treatment and other personal commitments
• Procedures for processing pensioners loan applications are very simple
• Fate of applications is provided within a shortest possible time
• Pensioners will still enjoy half of their monthly pension
• Does not require the pensioner to provide any tangible security
• The loan is insured against death or permanent disability of a pensioner thus, the liability will not bind members of his/her family