Personal Portfolio

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: 3% per month (36% 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: 3.2% per month (38% 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