Republic Bank is offering a 3-IN-1 Master Loan Scheme to cover all Government workers, Parastatals and selected Private Companies in the following categories:
- Government workers on the payroll of the Controller and Accountant Generals Department including Public Service, Civil and Local Government Service, Ghana Health Service, Ghana Education Service, etc.
- Security Services including the Ghana Armed Forced, Ghana Police Service, etc
- Subvented Agencies including DVLA, EPA, Ghana Standards Authority, FDA, SSNIT, Cocobod,
- Public and Technical Universities
- State Own Enterprises including Graphic Corporation, GNPC, Goil, VRA, ECG, GhanaGas,
- Large-scale Government of Ghana Public – Private Partnerships (PPPs) such as Meridian Ports Services (MPS).
- Any other government institution that draws salary from the consolidated fund.
- Selected Institutions Click here for more information
A selected number of multi-national companies and indigenous private companies are eligible under the scheme.
The Master Loan Scheme consist of 3 banking products: Personal Loan, Auto Loan, and Mortgage.
Staff of the aforementioned institutions can apply for one product or a combination of the three subject to the applicant’s Debt Service Ratio (DSR).
| Terms | Mortgage | Personal Loan | Car Loan |
| Maximum Loan Amount | GHS140,000 | Unlimited | Unlimited |
| Interest Rate | 11.9% per annum | 20% per annum | 21% per annum |
| Debt Service Ratio | Up to 50% | Up to 45% | Up to 50% |
| Tenor | 20 Years | 5 Years | 6 Years |
| Bank Financing | 100% | 100% | 90% |
| Downpayment | 0% | 0% | 10% |
LOAN REPAYMENT METHOD
The Loan repayment method for the Master Loan Scheme include:
- Salary Account with Republic Bank and
- TPRS Deduction at Source
TERMS AND CONDITIONS
Mortgage
Government Workers can apply for a Mortgage solely or jointly with their spouse under the Civil and Public Sector Mortgage Scheme to benefit from the subsidised 11.9% per annum Interest Rate. This mortgage covers maximum loan amount of GHS140,000. Any amount in excess of GHS140,000 will be financed at the Bank’s standard mortgage rate of 24% per annum or from the borrowers personal resources.
Property Locations: Only Properties from approved developers in, Kasoa, Kwabenya, Tema Community 25, and other locations to be added.
Requirements for the 3-IN-1 Scheme
