Salaried-backed Loans
Target:Employees/Self-employed Individuals
Facility Purpose:Cash loans to meet Education, Health bills, Housing and other pressing needs for
personal development and emergencies.
Product Features
- Loan Amount: MWK 100,000 – MWK 20,000,000
- Maturity: 3 – 12 months
- Interest rate: 4% per month (48% per pa)
- Collateral: Asset registered in the name of CoFi and only transferred
when loan is fully repaid.
- Documentation: Letter of Undertaking from Employer-Pay slips (2-3
previous months), Letter of Undertaking, guarantor, Passport photo, ID (for client and guarantor) Security
documents
Consumer Loans
Target: Rural-semi-Urban women, Men and Youth
Facility Purpose: Cash loans for acquisition of household Assets, Portable Water facility,
Electricity, Housing, Health Bills, and Education
Product Features
- Loan Amount: MWK 50,000 – MWK 1,000,000
- Maturity: 3 – 12 months
- Interest rate: 4% per month (48% per pa)
- Collateral: Asset registered in the name of CoFi and only transferred
when loan is fully repaid.
- Documentation: Chief letter, Credit assessment form Acknowledgement form,
signed collateral pledge form