ABITORE NAMONA

ABITORE NAMONA

overview

This product has been developed for all public servants or permanent employees working in government departments except for the Department of Education.

Benefits of Abitore Namona

• Low interest rates.
• No administration fees.
• Faster processing time.
• Convenient payment through bank account
• Flexible repayment terms.
  

  Customers Eligible for Abitore Namona

  Permanent employees of government department whom are accredited for raising Permanent Variation Advice (PVA)
  Not part time/casual.
  Not under probationary status.
  Existing salary is being credited into their bank account.
  Net salary above 50% take home (refer to loan calculator for government employees.)
  Not classified as black listed in PFL’s database unless the customer can be cleared from black list.

  Customers Not Eligible

  Employees not working with a government department.
  Any “black listed” customer unless the customer can be cleared from black list.
  Casual/probationary employees.
  Employees from government departments that are SUSPENDED.
  Employees on the retrenchment list

  Amount

  Minimum K300.00
  Maximum K20,000.00

  Term

  Minimum Five (5) fortnights
  Maximum Thirty (30) fortnights

  Fees

  Late payment fees of K20.00 per fortnight after two (2) fortnights of late, missed and reduced deductions, until arrears have been cleared.

  Topup Loans

  All outstanding balances must be fully paid before giving top up loans. Outstanding balance can be paid in cash or deducted from the proceeds of the top up loans.

  Disbursement Method

  Disbursement will be strictly through direct credit to the account of borrower.

  Repayment Method

  All repayments shall be through salary deductions only.

  Security

  Final pay entitlements.
  Eda Supa savings
  PEA or any other savings