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Retail Products

Institutional loan

SUMMARY

To relieve the financial burden of employers advancing loans to their employees, the bank has entered into agreements with institutions to grant loans at unbelievable rates for their employees for meet personal expenses.

Salaried workers of companies that have an institutional loan agreement with Societe Generale Ghana and good financial reputation.

 Purpose

To fund general expenses such as medical bills, purchase of household items and personal financial needs.

Eligibility

  • Customers must be employed by companies that have an institutional loan agreement with Societe Generale Ghana.
  • Customers must be confirmed by their employers
  • Customers must have a maximum gearing of 45% of their monthly income subject to their credit record

Target customers

Top affluent
Mass affluent
Mass market

Guarantees

Subscription of insurance is compulsory. In the event of death or disability, the outstanding loan balance is paid by insurance company.

Interest Rates

Negotiable 

Rates remain fixed for all staff once agreement is signed.

Facility processing fee

 Facility processing fee(Negotiable)

 Insurance

Costs between 1% and 2% of the loan amount.

Subscription of insurance is compulsory. In the event of death or disability, the outstanding loan balance is paid by insurance company.


Requirements

  • Letter from employer
  • Salary slip
  • A confirmation letter from employer