Fidelity Bank is undoubtedly one of the leading Banks in Ghana and have won the trust of many. The Bank has a number of loans available for its customers to apply. Below are a list of loans offered By the Bank and what it entails.
Types Of Loans
Personal Loans ( (Fast and Easy)
Salaried Loans
Auto/Car Loans
Mortgage
Asset Finance
Personal Loans (Fast and Easy)
The Fidelity Fast and Easy loan is a short-term facility designed to give existing and new bank customers access to easy and quick loans in less than 24 hrs at a low REAL interest rate of 10% p.a.
Features:
GHS2,000 is the minimum loan amount.
There is no maximum loan amount (LTV 90 percent )
A 10-percent-per-annum real (net) interest rate
The maximum loan term is 12 months.
Monthly, quarterly, or one-time repayment options are available.
With a savings or investment account, it’s safe. USD, EUR, or GBP; GHS; USD, EUR, or GBP
Benefits:
Get a loan with the lowest REAL interest rate, which is 10% per year.
Flexible monthly, quarterly, or one-time payment options are available.
In less than 24 hours, you can get a loan.
There are no additional or hidden fees.
Boost your credit score
There are no processing or administrative costs.
After 12 months of repayment, you will receive 10% of the total interest you paid on your loan.
Salaried Loans
Salary Backed Loans
Salary Backed Loan is intended to help employees of profiled (chosen) companies achieve their short- to medium-term financial demands. It has a straightforward loan application process, a flexible payback schedule, and competitive borrowing rates.
Features:
A debt-to-service ratio of up to 45 percent is possible.
Loans with a maximum length of 48 months are available.
GHS 150,000 is the maximum loan amount.
Interest rates that are competitive
An existing loan is taken over (Terms & Conditions apply)
Fidelity’s Repayment Salary Standing Order-Backed Account
A qualifying net monthly salary of GHc1,000 is required.
Benefits:
There is no requirement for a security deposit.
Repayment terms of up to 48 months are available.
A simple and speedy loan application procedure
Loan interest rates that are competitive
Borrow up to 150,000 GHS (Terms & Conditions apply)
Increase the amount of your current loan
Credit life insurance protects you from layoffs, total and permanent incapacity, and death.
Transfer your loan from another bank at a reduced rate (selective)
Employer Managed Loan
The Employer Managed Personal Loan is a medium-term facility designed for salaried employees working in organizations listed under our approved Employer Managed Salaried Programme. It offers enhanced benefits, a repayment plan, and lower rates.
Features:
A debt service ratio of up to 50% is possible (depends on net monthly salary)
60 months is the maximum loan period (depends on net monthly salary)
GHS 200,000 is the maximum loan amount.
Pricing: agreed concessionary interest rate with the employer
GHS 700 is the minimal monthly net salary that qualifies.
Benefits:
There is no requirement for a security deposit.
Repayment terms of up to 60 months are available.
A simple and speedy loan application procedure
Loan interest rates that are competitive
Loans of up to GHS 200,000 are available.
After three months, you can add to your existing loan ( Terms & Conditions apply)
Credit life insurance protects you from layoffs, total and permanent incapacity, and death.
Transferring loans from other banks at a reduced rate (Terms & Conditions apply)
Employee Salary Advance
The employee salary advance facility provides employees of profiled (chosen) firms with a personal overdraft solution intended to fulfill short-term cash flow needs between paydays or until the next pay cheque or salary date.
What we have to offer
Up to 60% of your monthly net salary
The interest rate is determined only on the amount that has been used.
Repayment terms of up to three months are available.
Borrowing rates that are competitive
A simple and speedy loan application procedure. (This feature is available on the Fidelity Mobile app.) Apply from the convenience of your own home.)
How do you obtain it?
To be eligible for the loan, you must meet the following criteria:
Working for one of Fidelity Bank’s highlighted enterprises or as a self-employed customer with predictable revenue streams
Employed for a period of more than a year and confirmed
By the end of the loan term, you must be over the age of 21 and under the age of 60.
What you’ll need and how to apply;
Fill out a Salary Advance request form or use the Fidelity Bank Mobile app to ask for a salary advance and submit the required documents:
Paystubs from the previous three months
Customer Acceptance Letter and Employer Confirmation, both signed
Auto Loan
With the Personal Auto Loan option, you may have the car of your dreams. This is a medium-term loan provided to salaried employees of firms who have an Employer Managed Relationship with Fidelity Bank. Simply apply for a Personal Auto Loan and take advantage of a flexible repayment schedule and low interest rates.
Benefits:
There is no requirement for a security deposit.
Repayment terms of up to 60 months are available.
A simple and speedy loan application procedure
Loan interest rates that are competitive
Loans of up to GHS 350,000 are available.
This policy applies to both new and moderately used vehicles.
Transferring loans from other banks at a reduced rate (Terms & Conditions apply)
Features:
A debt service ratio of up to 50% is possible (depends on net monthly salary)
Repayment period varies between 12 and 48 months (60 months for selected professionals)
Vehicle financing for both new and secondhand automobiles (used vehicle not more than 5yrs from the date of manufacture and not more than 36 months of use)
A net monthly salary of GHS4,000 or more is required (including allowance).