Government Worker's Loan
This plan targets working individuals in the Government services that are in good standing, such as police officers and all others that’s have a need for loan that can arrange for repayment by way of salary deducted.
- Borrow up to 10% of Annual salary
- Monthly repayments by way of effected Salary Deductions
- Relaxed Security/Collateral requirement where salary deduction can not be effected (floating charge on fixed and future assets and or agreement for a second mortgage on property with a first mortgage already in place)
- Enjoy low interest rates of 1%* approximately when paid on time.
- If salary deduction is the security option a letter from employer stating
- Confirming personal particulars of the employee
- How long the person has been employed there
- Whether temporary or permanent employment
- Proof of weekly/monthly/yearly salary
- Maximum loan is 10% of gross salary
- The employer must be a stable entity of the Government and approval for deduction firstly in place ahead of any grant of funds over to the applicant.
- The monthly payments must be by way of salary deductions or by a bank standing order.
- The monthly payback must be forty (40%) percent of the monthly gross salary*
If the loan application cannot be secured by way of Salary Deduction or a Bank Standing Order then treat as if it was for a regular personal loan (or other fitting one of the OBF loan packages) and process as such.
All necessary checks to affirm the truth of all matters stated before a grant of a loan is necessary (see imperatives for Pay-Day Loans and other as the packaging appears to be and follow)