| Target Group | - Employed people in the private sector |
| Qualification Criteria |
- Be in employment for over 1 year - Permanently employed - Meets the 3rd rule - Employer is in agreement with the company to deduct and remit on behalf of the bank |
| Loan Tenure |
- 1st borrowing at 6 months - Subsequent borrowing at 12 months |
| Interest rate | - 3% -10%PM on a risk based model |
| Loan amount |
- To a max of 200,000 based on the 1/3 rule - 1st borrowing to be capped at a max of 50,000 - Any amount above 200,000 to be fully secured with tangible assets |
| Security |
- Check off system - Company /scheme to enter into agreement to remit deduction |