BancABC salary-based loans

Last Updated on

Requirements for applying for a BancABC Salary based loan

  • You should have a BancAbc account for at least 3 months
  • You should be permanently employed for at least 3 months
  • Your recent current payslip
  • A bank statement for the last 3 months
  • A salary redirection letter

The salary redirection letter will be telling your employer to process your salary in your BancABC account

Loan conditions of the salary based loan

  • Maximum amount to borrow

You can only borrow a maximum of $20 000.

40% of your net salary.

  • Maximum repayment period

The loan should be paid up in 36 months regardless of the amount.

  • Minimum qualifying net salary

You should be earning at least $1000 to qualify for a BancABC salary based loan.

  • Existing loans

You can’t qualify for the salary-based loan if you have existing loans that you are paying that exceed 40% of your net salary.

0 0 vote
Article Rating
Notify of
Inline Feedbacks
View all comments