Loan Process and Procedures - Healthy People Lifestyle Journal

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Thursday, 10 November 2016

Loan Process and Procedures

The core issues are:
Opening Accounts package
The neccessary documentation process involved in establishing bank relationship/ account opening

Loan tenor: The loan life line
Loan processing time
The time between the collection of loan form and the actual disbursement.

Interest rate: The cost of the loan
Loan deductions: Other costs associated with the loans
Minimal balance: Minimum amount that must remain in an account

Other MFI services:
Moratorium period: The period given by the bank to a client before commencement of loan repayment.

Guarantors: Persons with verifiable income

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