Ever thought of how you can get loans from the Family Bank? Well, am going to take you through the requirements and all the kind of loans you can get from the lender.
Family Bank Loans.
The lender provides loans to individuals as well as businesses. People in the diaspora are not left out too. They can still get credit back home from the Family Bank.
Here are some of the personal loans currently available;
- Salary loan
- Mobile loan
- Salary advance loan
- Check off loan
These are some of the currently available mortgage arrangements;
- Brick to Brick
- Plot loans
- Construction loans
- Company scheme loans
- Estate Development loans
- Owner Occupier loans
The list is not exhausted. The lender has other tailor made facilities to businesses and individuals for example working capital loans, group loans and more.
Family Bank Loan Interest Rates
The mobile loan is a special product which is priced separately but he other loan facilities are dependent on the Central Bank Rate (CBR). Currently, loans here are charged an interest rate of 13.5% per annum.
The Repayment period for loans depends on the product taken. Personal loans have a short repayment period. Mobile loans and Salary advance need to be repaid after 30 days . Other products however can be repaid after even more than 24 months.
Mortgages on the other hand have a longer repayment term. It can be over 60 months.
How to Borrow Loans from Family Bank
First, you need to be eligible to apply for loans from this lender. Among other factors, a borrower must be a customer to the bank or willing to be a customer to the bank.
To start accessing the loans, you can visit any family bank branch near you and enquire about loans. The lender has over 90 retail outlets countrywide.
To access the Mobile loan, you will simple check with the USSD code *325# or Download PesaPap app from either Google play store or apple appstore.
Family Bank loans start from a few thousands to millions depending on the loan facility the borrower is seeking.
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