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+265 999 941 333 | +265 999 938 333
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info@neef.mw
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Loan Product Details
Individual Loan Product
Target Market
- Employees of the private sector, parastatals and other government agencies not on civil service payroll. Repayment should be directly from the source.
Objectives
- Improve economic status for employees in the private sector, parastatals and other government agencies.
- Contribute to socio-economic development.
- Promote job creation.
- Entrench entrepreneurship spirit
Requirements
- With Employer’s MOU with NEEF
- Company profile
- Memorandum and Articles of Association for employer
- Minimum of 10 member staff compliment
- Financial Statements for the employer
- Employee’s National ID.
- Employer’s letter of confirmation of status of employment
- Duly Authenticated Bank Standing Order in favour of NEEF.
- Without MOU with NEEF
- A Letter of Commitment from Employer to not change employee salary account within the loan period.
- Employee’s contract to be stamped and authenticated by a Commissioner for Oaths (applicant to bear the cost)
- Latest applicant’s payslip.
- Applicant’s salary account 3-months Bank statement (to assess trend of salary deposits).
Thresholds
- Minimum K500,000 to Maximum of applicant’s repayment capacity.
Collateral Requirements
- Institutional guarantee that the repayment will be collected from the employee and remitted by the employer every month until fully repaid.