Loan Types
- Personal loan
- SME Loan
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Personal Loan
Why you should apply
- Get an unlimited amount
- Same day approval
- Opportunity to transfer and consolidate your loans with us
- Opportunity to top up your existing loan with us
- No need to be a Customer to apply
Targeted Customers
- Salaried employees of both Public & Private Sectors
- High Net worth Individuals
- Corporate CEOs and Directors
- Senior and Middle Level Management and other Professionals.
Personal Loan Qualification
| Income Profile |
Income Bracket (GHC) |
Maximum Loan Amount |
Debt to Income ration |
Interest Rate Reducing Balance |
Loan Tenor (in Months) |
| Platinum | ≥10,000 | Unlimited | 50% | 19% | 60 |
| Gold | 7,000 to 9,999 | Unlimited | 50% | 19% | 60 |
| Silver | 3,000 to 6,999 | Unlimited | 50% | 20% | 60 |
| Bronze | 800 to 2,999 | Unlimited | 50% | 20% | 60 |
ELIGIBILITY
- Applicants must be permanently employed, completed probation and confirmed as permanent staff.
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MORATORIUM
- Republic Bank customers with salary assigned to the Bank can opt for a moratorium of up to 3 months.
- For CLC Loan customers who have initiated the process to switch salary from Competitor Bank to Republic Bank, a moratorium of up to 3 months may be granted.
- For TPRS deduction at source a moratorium of 2 months apply.
GUARANTOR REQUIREMENT
- Private Companies
- 1 Guarantor required if his income is 20% higher than that of Applicant.
- 2 Guarantors required if the income of both is at least 20% higher than applicant salary.
- Guarantors are required to provide recent 3 months’ payslip.
- Government Workers
- No Guarantor required for applicants who have worked for MORE than 3 years with government.
- 1 Guarantor required for applicants who have worked for LESS than 3 years with government.
SME Loan
| Maximum Loan Amount |
Interest Rate Reducing Balance |
Loan Tenor (in Months) |
| Up to GHS 1 million | 24% | 60 |
CAMPAIGN MECHANICS – SME LOANS
- Management accounts to be accepted for credit facilities below GHS500,000.00
- Processing and facility fee 1% each
- 30% cash collateral allowed on case by case basis
- Reduction in interest rate by 1% for full cash backed facilities
- Tenure of up to 5 years (to cater for vehicle / equipment financing etc)
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LOAN CALCULATOR