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Pay Day Loan

Pay Day Loan

Get up to 40% of your monthly salary to give you financial relief in case of emergency. This interest free-loan is tailored to meet the needs of customers who require short term financing.

Benefits of a Pay Day Loan

Access Anytime

Draw money whenever you need it from an overdraft that’s always available

No Interest

You only pay a once off flat free and enjoy a loan without incurring any interest

Quick repayment

Repay your loan within 30 days.

No Fuss

Avoid minimum monthly repayments, with full settlement the instant your salary is paid
What you get
  • Minimum MWK 50,000 and Maximum MWK 3,000,000
  • Customer can access facility maximum of 4 times a year (once a quarter/ 3 months)

 

What it costs

A flat fee of 4% min MWK 11,500

2020 Pricing Guide

 

How to get it
  • Letter of undertaking from employer – Direct Banking customers (Not a requirement for Relationship Banking customers)
  • Three months bank Statement (For new customers)
  • Latest pay slip
  • National identity
  • What you get
  • What it costs
  • How to get it
  • Minimum MWK 50,000 and Maximum MWK 3,000,000
  • Customer can access facility maximum of 4 times a year (once a quarter/ 3 months)

 

A flat fee of 4% min MWK 11,500

2020 Pricing Guide

 

  • Letter of undertaking from employer – Direct Banking customers (Not a requirement for Relationship Banking customers)
  • Three months bank Statement (For new customers)
  • Latest pay slip
  • National identity