This loan product works in similar fashion like the payroll lending. Whereas the payroll lending is for government workers, Scheme loan is for private institutions.
In this instance the management of private institutions (very reputable ones) agrees to guarantee for their staff to take loans from AC Bank and also promise to do the deduction at source and pay to AC Bank directly.
The consumer loan works on a similar principle like the Scheme loan or better still hire purchase. Customers get to purchase home and electrical appliance on a hire purchase
Features and benefits
- Staff of these private institutions may not need to pass their salary through the bank.
- Easy recovery thereby less risk of default
- Deduction is made at source
- Fast and convenient
- No guarantor needed
- Customers are able to purchase household items and electrical appliances on credit.
- They might be internal or external customers, external customers might be either on controller payroll or in a private organization.
- Items are delivered at the branch close to them.
- Delivery time is dependent on volume of purchase.
- SALARY LOAN
- COMMERCIAL LOAN
- SUSU LOAN
- MICROFINANCE/GROUP LOAN
- SALARY OVERDRAFT
- COMMERCIAL OVERDRAFT
- SCHEME LOAN
- SPECIAL OVERDRAFT
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The Afram Rural Bank / AC Bank limited was incorporated as a company limited by shares on November 12th, 1981 under... Read More
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