Helps to ensure that customers are able to develop themselves through acquiring assets and to sort out personal problem.
- It’s a bank undertaking that is unsecured, but there is an undertaking from the employer to pay salary into the account with EBL or deduct installment at source and remit to EBL.
- Usually advanced up to 60 months.
- The bank earns interest income on it.
- Lasts longer, simple requirements
- Client obtains credit hence easing increase in liquidity
- Borrower must be in employment with an operative Equity Bank account
- Application for the facility with a clear purpose
- Financial information/ Pay slip and copy of bank statement
- EBL must have an MOU with employer