Personal Loans

Explore Our Personal Loan Packages
Public Service Pack / Private Employee Pack

These Packs are personal loan facilities specially designed to meet the financial needs of employees in both the public and private sectors.

With an interest rate starting from 10%, you can access a personal loan from Bank of Africa.

Current account
Free withdrawals on BOA Ghana ATMs
No COT charges
Free cheque books
Free initial issuance of SESAME ATM cards
No charge for using any of our digital products – BMobile, BOAweb, SMS alert
Filled Personal Loan form
ID Card – Ghana Card
1 passport size picture
Current three (3) months payslip
Proof of address: utility bill, etc
Already a customer at BOA(Required)
Educational Loan

The Educational Loan is a product available to salaried workers who want to further their education or sponsor the education of their ward or relatives.

Applicant has to be a BOA account holder.

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

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

Applicant can access up to four times his/her monthly net salary.

Bank contributes up to  80% of educational bills submitted.

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 monthly salary of GHS 500

Minimum Loan Limit  GHS 1,000

Maximum Loan Limit GHS 20,000


Access to funds to support education.

Fast-tracking processing.

Affordable pricing.

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

Already a customer at BOA(Required)