Personal Loans

Public Service Package Details

Public Service Package (PSP) is a personal loan facility specially designed for employees in the public sector.

Current account.
Savings account.
Ambitious Savings Plan.
Free COT.
Free first cheque book.
ATM card: first issuance free, renewal free, replacement charged.
Free ATM withdrawals at BOA Ghana’s ATMs.
No charge for using any of our digital products – BMobile, BOAweb, SMS alert
Eligibility
Aged minimum 21 years and maximum 59 years at the date of signing the package.
Salaried workers from the Public Sector.
Net monthly salary of minimum GHS500.00.
Non – blacklisted individuals.

Documentation
Filled Personal Loan opening form.
ID Card – Ghana Card.
1 passport size picture.
Current three (3) months payslip.
Proof of address: utility bill, etc.
Employee Pack

Title(Required)
Name(Required)
Already a customer at BOA(Required)
Consent(Required)
Private Employee Pack

The Employee Pack is a personal loan designed purposes for employees in the private sector

Features
Savings Account.
Current Account.
Free ATM withdrawals at BOA Ghana’s ATMs.
ATM Card: First issuance free, renewal free, replacement charged.
Free COT.
Free first cheque book.
No charge for using any of our digital products – BMobile, BOAweb, SMS alert.

Documentation
Filled package application form
1 passport picture
ID Card – Ghana Card
Current three (3) months payslip

Aged minimum 21 years and maximum 59years at the date of signing the package.
Salaried workers of approved list of Employers.
Net monthly salary of a minimum amount of GHS 500.00.
Non-blacklisted individuals.
KYC compliant.

Title(Required)
Name(Required)
Already a customer at BOA(Required)
Consent(Required)
Educational Loan

The Educational Loan is a product that enables individuals in employment who have ambitions to further their education, to access personal loans for that purpose.

1-year tenor

The customer has the option to pay off the facility before expiration without any penal charges.

Funds are paid directly to the applicant’s BOA account.

Insurance premium to be determined by the Insurance Company and Bank of Africa Ghana.

Applicant can access up to four times his net salary.

Bank contributes 100% towards financing the loan.

Applicant must be aged 21 – 58 years at the time of the request.

The employee must have been in employment for more than 6 months.

Where the customer has less than 6 months or in new employment but has had a previously well-conducted loan, the application will be considered.

Method of Repayment: The loan repayment date is set around the date of the salary credit into the account. Direct debit/standing instructions from Bank of Africa Ghana for monthly principal and interest loan repayments.

Minimum Net Salary GHS 500

Minimum Loan Limit  GHS 1,000

Maximum Loan Limit GHS 20,000

Benefits

Access to funds to support education.

Fast-tracking processing.

Affordable pricing.

Eligibility
Individuals already in employment who are between 21 and 58 years.
Customers and Non-Customers.
Non-blacklisted individuals.

Documents to Produce

Filled application form.
2 recent photos.
Certified copy of identity card.
Bill from an educational institution.
Proof of employment.
Proof of salary – Confirmed  latest salary/Pay slip.
Six months bank statements to confirm salary credits and consistency.
Proof of address (Utility bill, etc.-Copies must be supported by originals for verification)
Customer – Letter of undertaking from employer stating that the salary of the applicant would be paid to the bank during the tenure of the facility.

Non Customer – Letter of undertaking from employer stating that the loan deduction would be effected by the Employer and same forwarded  to the bank throughout the tenor of the facility

Title(Required)
Name(Required)
Already a customer at BOA(Required)
Consent(Required)