Susu Loans - Anum Rural Bank PLC

Susu Loan Account

It is a product that seeks to reduce stress by ensuring that Mobile Bankers get to the doorsteps of Susu contributors to make daily cash collections and deposit them in their individual Susu accounts at the bank. Contribute susu for at least four months and stand a chance of getting a loan with flexible repayment terms whenever you are in need. Our field tellers will visit you for your daily repayments. This product is targeted at petty traders, artisans, taxi drivers, etc This is a special loan product designed to increase the working capital of traders. The Susu loan qualification is characterized by daily contributions. The amount granted as a loan is based on average contribution for a period of at least (4) months.

Product Features

Engaged in income-generating activity.
Operates Susu accounts with the bank
Applicant should operate Susu savings account for at least four (4) months without withdrawal before eligible for initial loan
The customer shall be issued with a cheque book and cash pay-in books where applicable

Minimum of two (2) guarantors
Cash lien in the range of 1/3 to 1/5 of the amount granted as a loan
Two (2) guarantors are or more would be required depending on the amount being taken. Up to Twelve(12) months repayment plan

Benefits

Issuance of Cheque book
Easy access to loans and overdraft facilities
Competitive rates
Third party withdrawal