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LOANS

SME Loans

"i can get a loan

to help business

grow"

Loan designed for small and medium businesses whose borrowing needs are bigger than micro enterprises.

 

The purpose of the loan is for business growth; by either financing working capital or capital investment.

 

FEATURES

Loan size: over MWK1,000,000.00

Loan term: 3 to 12 months for working capital and up to 48 months for Capital Expenditure

Security: Legal mortgage, Bill of sale, assets – cars, machinery, stock

 

BENEFITS

More purchase, more turn over and more profits

Helps in business diversification

Flexible, easy and convenient

 

GET APPLICATION FORM

GET APPLICATION FORM

Tiphunzire Loans

"i can carry

out my business transactions properly and prompt"

GET APPLICATION FORM

Opportunity International brings simple, secure banking to remote areas of the developing world.

 

Our branches offer economical, efficient services tailored to the specific needs of each region. In addition to our full-service banks, we are expanding the number of mobile banks, point-of-sale devices and ATMs available to those living in remote areas.

 

Opportunity International’s team of global finance experts, recruited for their depth of knowledge and passion for our mission, has helped us form 15 formal financial institutions (including seven banks), design customized products and services, and provide dependable customer care.

 

Your support will help provide those outside the economic mainstream with greater access to the professionalism and security of a commercial bank, as well as the financial resources they need to build a more stable future for their families.

 

 

Payroll Loans

"Short and medium term finance for salaried workers"

A payroll loan is an advance to an employee pre-qualified by the employer.

 

Features

Eligibility : Employees as pre-qualified and recommended by the employer.

• Amount : Min. K1, 000 max. K1, 000,000

Purpose : Emergency, Consumer Products, Event funding such as weddings, school fees, engagements etc.

Repayment     : Monthly: min 3 months max 48 months (applies to amount in excess of K500,000), direct debit from employee’s salary by the employer who then remits to the bank

A max of 12 months applies to loan amounts less than K500, 000

• Pricing : 29% per annum and 2.71% per month, Fixed and flat.

• Processing Fee: 2% of the loan amount, min. K150; max.K10,000

• Other conditions: Letter of undertaking by employee instructing employer to deduct the installment from salary at source.-no other loans to be taken without the bank’s consent

• Early Pay Off : allowed but subject to a penalty of 3months interest or all interest outstanding if less  than 3 months.

• Default           : A penalty of 3% of the defaulted monthly installment to be charged.

 

Benefits (to employer)

 • Staff welfare is improved

• The process and administration of the loan is easy.

• Employers concentrate on their core business.

 

Benefit (to employee)

• Satisfies a financial need which may not be fulfilled by the salary

• Highly flexible, covers a wide range of needs

• Flexible repayment period

• Can borrow up to Pension/Gratuity/Severance contribution total

• Loans are under Credit Life Protection, therefore Full Pension contribution is paid to the beneficiaries in case of death.

 

 

GET APPLICATION FORM

GET APPLICATION FORM

Maziko Group Loan

"Loan for groups of micro entrepreneurs for business expansion"

A group micro loan designed for micro business

 

Suitable for small business operators and basically those without valuable assets for collateral

Groups of 7-10 people in urban and semi-urban areas and 10-20 in rural areas

PTB 1 with bi-weekly repayments

Graduates to PTB 2 with monthly repayments

Min; K5,000 Max; K200,000

Security: Mutual guarantee of members

Mandatory deposit of 15% for fortnight and 20% for monthly repayments.

 

GET APPLICATION FORM

GET APPLICATION FORM

Mzati Individual Loans

"Working capital for individual business expansion"

FEATURES

Amount : MK30,000 – MK150,000;  MK151,000-MK 300,000,  MK301,000-MK600,000.

Period: 3-12 months.

Mandatory deposit of 20% for MK30,000 – MK150,000,15% for MK151,000-MK 300,000 and 10% for MK301,000-MK600,000 of the loan amount

Security is required in form of assets e.g.  household items,  vehicles, real estate properties or cash.

 

GET APPLICATION FORM

GET APPLICATION FORM

Agricultural Loans

"i can carry

out my business transactions properly and prompt"

Loan product that targets farming community by offering credit solutions to increase farm productivity.

 

Features

 

Eligibility : Farmers must be in self selected clubs or Associations

    : The club or association should have a legally bound constitution

    : The club or association should have contract agreement with a buyer

    : Have an account with Opportunity Bank

 

Target   : Farmers who are organized in clubs or as individuals

    : Have a readily available market

 

Purpose  : To assist farmers in getting agricultural inputs

 

• Loan size  : MK5,000.00 – US 3,000 (MK420,000.00) -group

    : USD1,000 (MK140,000.00) - USD10,000.00 (MK1,400,000.00) –individual

 

Repayment  : Bullet

    : Monthly (Balloon)

 

Repayment Period : 6 -10 months, grace period is negotiable

 

Interest rates  : 29% per annum for first time borrowers and 28% for existing    borrowers

 

Processing Fee : 2.5% of the loan amount

 

Security  : LSS requirement is 10%

   : Mutual guarantee of members

   : Assets – leasehold, title deed for individual borrowers

 

Other Conditions : MOU should be signed between the buyer, farmers and the bank

   : The sales proceeds must come through Opportunity Bank

 

Benefits

 

• Drought Insurance cover

• Credit life insurance provided

• Security by mutual guarantee of members

• Free transformational trainings

 

GET APPLICATION FORM

GET APPLICATION FORM

Mphamvu Loans

"i can carry

out my business transactions properly and prompt"

A loan borrowed against a deposit (Savings, Fixed, Investment accounts) held at Opportunity Bank.

 

A loan borrowed against a deposit (Savings, Fixed, Investment accounts) held at Opportunity Bank.

 

Features

Eligibility :one who has a deposit held at OIBM

                                Aged over 18 years

Amount :min. K4,500 : max. K1,000,000

• Purpose :not necessary

Repayment :Monthly: min 3 months; max 12 months, direct debit from savings account

Pricing :23.5 % per annum and 1.96% per month

    Fixed and calculated on reducing balance

Processing Fee: 2.0% of the loan amount, min. K150 maxK5,000

• Security :Pledge over a deposit held by self(lves)

                                 90% - 1st Loan

   100% -2nd Loan

   3rd Loan and thereafter - negotiable

GET APPLICATION FORM

GET APPLICATION FORM

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