Payroll Loan
Special loan products designed exclusively for government employees and private companies employees.
PAYROLL LOAN
This is a credit facility for salaried employees working with government departments and private companies with good performance and low staff turnover.
Loan amounts range from MWK 50,000 to MWK 1,000,000.
The repayment term is 3 to 12 months, with further adjustments underway.
Benefits Of Payroll Loan
- No collateral or security requirements to obtain the loan
- Quick loan processing
- Comes with Insurance cover
- Client can get a loan top-up after servicing half of the loans but no parallel loans are allowed
Required Documents
- Signed MOU with client’s employer
- Completed signed loan application form
- Applicants must be between 18 years and 60 years
- Proof of confirmed monthly salary income from at least 6 months
- Credit Reference Bureau Report
- Proof of residence
- Any other documents as requested by APTL Microcredit Ltd
Note: No collateral is required for this loan type.
Frequently Asked Questions
How long does approval take?
Approval typically takes 2-3 working days once all documents are submitted.