Personal Loan

Receiving money for personal expenses might be challenging because one must first provide a lot of information and then patiently wait for clearance. After going through the challenging process, the request could occasionally be declined. Fortune Capital Savings and Loan Ltd Limited seeks to assist people without raising too many issues as a result. People who require a facility, whether they are professionals or not, consumers or not, are the target market for this product. Professionals, entrepreneurs, market vendors, and tabletop sellers are just a few examples, but there are many more.

Features

⦿ The applicant must be employed or working at a sustainable source of income.

⦿ Salaried employees must have successfully finished their probationary period, be confirmed as permanent employees, and provide an introduction letter from their employer along with their last three (3) pay slips.

⦿ A self-employed person must present legitimate documentary proof that their business has been operational for at least a year.

⦿ Bank statement for the previous six (6) months

⦿ Postdated checks covering the entire amount of each installment

⦿ The residences and places of employment of the applicant and the guarantors will be examined and verified by the credit officer and members of his or her team. A minimum of two guarantors must present a post-dated check covering the entire amount.

⦿ Loan amounts range from 1,000 to 10,000 Ghana cedis.

⦿ Loan term: three to nine months

⦿ Frequency of Loan Repayment: Weekly, Biweekly, or Monthly

⦿ Grace Period: Variable based on frequency of loan repayment

⦿ Monthly interest rate: 5%

⦿ Lien: 25%

⦿ 3.5% processing charges

⦿ GH5.00 for the application form.

⦿LPF: 2%

⦿ 0.25% per day is the loan default penalty.

BENEFITS

⦿ Access to financial assistance within a short period

⦿ Access to a revolving facility.

REQUIREMENTS

⦿ 3 passport pictures of a new applicant (for account opening forms, loan forms, and passbook).

⦿ Valid National ID card

⦿ 3 months’ current payslips where applicable

⦿ 6 months’ Official bank statement

⦿ 2 Guarantors