Susu Loans
The Susu Loan is designed to support individuals and small businesses by providing convenient access to credit through the Bank’s Susu savings scheme. Our Mobile Bankers visit customers at their business premises or homes to collect daily savings, which are deposited into their individual Susu accounts.
Customers who consistently contribute to their Susu account for at least four (4) months may qualify for a loan with flexible repayment terms. Loan repayments are collected by our Mobile Bankers at your convenience.
This product is ideal for petty traders, market women and men, artisans, taxi drivers, commercial drivers, and other self-employed individuals. It is specifically designed to increase the working capital of small businesses. The loan amount approved is based on the customer’s average daily Susu contributions over a minimum period of four (4) months.
Features
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Applicant must be engaged in an income-generating activity.
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Applicant must maintain an active Susu savings account with the Bank.
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The Susu savings account must have been operated for at least four (4) months without withdrawals before the applicant becomes eligible for the initial loan.
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Applicants are required to maintain a cash lien equivalent to at least 33% of the approved loan amount as security.
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A minimum of two (2) guarantors is required. Additional guarantors may be requested depending on the loan amount.
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Flexible repayment period of up to twelve (12) months.
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The borrower must continue making daily Susu deposits, which serve as part of the loan repayment arrangement.
Benefits
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Easy access to credit.
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Convenient daily repayment through our Mobile Bankers.
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Flexible repayment terms.
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Competitive interest rates.
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Increased working capital to support business growth.
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Free business advisory services.
Products & Services
We are here for you. Get in Touch!
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Call Us on
0248636324