IB Salaried Workers’ Credit Scheme
Is your home in need of renovation and you do not have the money to carry it out? You’ve come to the right place. IB is offering you that unique opportunity to undertake that renovation you have longed for or to acquire that furniture of choice.
For more information, please click one of the links below.
Product Detail:
| Target Group |
Salary workers with recognized institutions, for example UNMIL, Firestone, BRE, etc. |
| Loan Purpose |
To improve your home purchase consumables, furniture,
Household Items, land purchase, building development, vehicle repairs, fees, travel expenses, education, etc. |
| Payment Source |
Repayment will be by installments from monthly salaries and other emoluments. |
| Minimum Credit |
Dependent on the value of the item (s), Security offered, as well as level of salary. |
| Maximum Credit |
Depends on salary and debt burden (see below) |
| Tenor |
12 months |
| Security |
Personal Guarantee of applicant and company guarantee.
OR
Personal Guarantee of applicant and assignment of Provident fund.
OR
Personal Guarantee of applicant and Mortgageof Landed Property.
AND
An undertaking from employers to channel monthly salary solely through IBL and also to advise IBL immediately of resignation and/or termination or relocation in his/her employment.
AND
An undertaking by the employer to pay IBL any entitlement due the client in case of any eventualities such as death or resignation |
Debt Burden |
40% Debt Burden |
| Pricing |
16% per annual |
| Handling and |
4% of facility amount. (To be paid upfront) |
| Commitment Fees |
|
| Account Relationship |
An applicant has to be an account holder of IBL and salary payments should have been channeled at least twice before disbursement would be carried out. |
| Minimun
Salary |
US$25.00 or its equivalent |
| Age |
18 - 53 years |
| Minimum Employment Record |
6 months, provided the employee is confirmed
Record or at the discretion of the Credit Manager, GM, CEO |
| Repayment Methods |
Annuity. |
| Insurance |
All loans will be insured against death or permanent disability. |
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Requirements list for IBL Salaried Workers’ Credit Scheme
Completed IBL Salaried Workers’ Loan Application Form
Reference letter from current employer (indicating statues, annual salary and existing loan, if any) or detail description of source of repayment
Copy of office ID card, Passport (drivers’ license or National ID card are alternatives)
Pay slips for last 6 months (if applicable)
Copy of bank statements for the last 6 months (if not an IB account holder)
Up-dated resume
2 recent passport photographs
Copy of spouse’s letter of employment and or pay slips indicating salary (if applicable)
Apply today
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