Multi Credit Savings And Loans: Packages, How To Apply, Contacts. November 2022

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multi credit savings and loans: packages, how to apply, contacts

Welcome to our blog. In todays article, we will be profiling the most talked about multi credit savings and loans: packages, how to apply, contacts and more. Stay with us.

About MultiCredit Savings and Loans

MultiCredit Savings and Loans Ltd (formerly Garden City Savings & Loans Ltd) is a limited liability company licensed by the Bank of Ghana to mobilize public deposits and grant loans and other credit facilities to its customers in accordance with the provisions of the financial institution (PNDC) law.

Multicredit Savings and Loans Products & Services

Savings Account

Features

Less cumbersome account opening procedure
Minimum opening balance is GHS5
Minimum operating balance is GHS10
Minimum balance to qualify for interest is GHS20
Attractive Interest Rates
Interest is calculated daily and applied monthly
Up to four withdrawals per month

Requirements

Valid ID Card
1 passport picture
Utility bill (should not be more than 3 months)
1 reference from a current account holder with a recognized Bank or Savings and Loans Company or Letter from employer
Resident permit (for foreign nationals)

Fixed Deposit

Features

Less Cumbersome procedure
Minimum investment of GHS1,000
Terms available: 30 days, 91 days, 182 days and 1 year
Certificate of investment is issued
Attractive interest rate
Interest is calculated daily

Requirements

Valid ID Card
1 passport picture
Utility bill (should not be more than 3 months)
Resident permit (for foreign nationals)

SME Loans

Features

Less cumbersome procedure
Flexible amounts to meet the needs of all levels of businesses
Quick Turnaround time
Term: Up to 60 months
Competitive interest rates
Flexible repayment terms

Requirements

Identity and proof of address of directors or promoters
Identity and proof of address of entity
Board Resolution
Company Registration documents
Audited Financial statements for the last 3 years
For non-customers, six (6) months bank statement would be required
Security may be required

Susu Account

Features

Less cumbersome account opening procedure
Minimum opening balance is GHS1
Access to a free Pass Book
Personal Field Banker
Unlimited withdrawals
Lower interest on susu loans
Instant Confirmation of daily deposit
Minimum daily contribution is GHS1
Minimum contribution to qualify for a loan is 2months
Minimum loan amount is GHS200
Loan maturity profile:

Requirements

Valid ID Card
1 passport picture
Utility bill (should not be more than 3 months)

Current Account

Features

Less cumbersome account opening procedure
Minimum opening balance is GHS10
No minimum operating balance
Access to a cheque book
No Commission on Turnover (COT)

Requirements

Valid ID Card
1 passport picture
Utility bill (should not be more than 3 months)
1 reference from a current account holder with a recognized Bank or Savings and Loans Company or Letter from employer
Resident permit (for foreign nationals)
Resolution from the Board
Business registration documents (Businesses only)

How To Apply For A Loan At Multicredit Savings and Loans

To apply for a loan, you need to walk into any of the branches of Multicredit Savings and Loans for more information.

Contact

Bantama High St, Kumasi,
P.O.Box 1920. Adum.

Phone: (+233) 322-037-418
Mail: [email protected]

Thank you for reading our todays post on multi credit savings and loans: packages, how to apply, contacts and more. We hope our article has been helpful.

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