Overview
A Revolving term loan is a facility which allows one to access the repaid amount after a period of 6 months and 3 months for silver and priority banking customers respectively. This is a personal loan and the applicant is free to use the proceeds of the loan for whatever personal use.

Features:

• Monthly net salary
• Gross salary X 2.5
• Minimum MWK220, 000 and maximum MWK1, 000, 000
• Repayment is maximum of 36 months

Key benefits

• Loan protection for death and disability
• Revolving facility after 6 months for medium salaried (silver segment) and 3 months for upper salaried (priority segment)

Who can apply

• Salaried employees with net monthly income of between MWK 60, 000 and MWK 670, 000

Documentation required

• Letter of undertaking from employer
• Latest payslip
• Valid identity
• Proof of residence

Other Requirements

• Conduct a Standard Bank  transaction account
• Monthly salary to be deposited in transaction account