Salaried workers, whose salaries pass through Capital, can obtain salary advances for the acquisition of assets such as a car, furniture, a TV set, a refrigerator, or to fund building projects and to pay school fees of dependents and rent advance.
Salary advances of up to GH¢10,000 for not more than 5 years are available to salaried workers who have served for at least 1 year at their current places (organizations) of employment. However, loan term must not exceed 12 months, if the loan is not being sought for the acquisition of fixed assets like cars and buildings, in which case the said assets must be part of the loan collateral. Monthly credit repayment must not exceed 40% of the borrower’s net monthly.
Salaried workers, whose salaries pass through Capital, can obtain salary overdrafts up to GH¢1,000 for not more than 1 month, so long as the credit amount does not exceed 40% of borrower’s net monthly salary. This product is designed to be accessible and to meet the immediate cash needs of customers without laborious documentation.
Capital provides prompt salary loans for all personnel who draw their salaries from the Controller and Accountant-General's Department. These loans do not require cumbersome procedures and documentation. All an applicant needs to provide are three most recent pay slips, voters ID card, two passport-sized pictures and a form endorsed by his/her employer. Salary loans of up to GH¢20,000 for not more than 5 years are available to government workers.Monthly credit repayment must not exceed 30% of borrower’s net monthly salary.
Capital provides overdraft facilities to customers, with Current and Premium accounts, to meet their working capital needs such as paying bills and financing inventory of commodities or other inventory. The bank also makes available to its most creditworthy business customers stand-by lines of credit. Overdrafts of up to GH¢50,000 for not more than 3 months are available to business customers and the overdraft amount shall not be more than 50% of the average credit turnover in the preceding 6 months.
Capital provides prompt business loans for starting projects and expansion to individuals and all sizes and types of business entities, including individual businessmen, traders, farmers, artisans and companies. The Bank also provides credit facilities to businesses to meet their working capital needs such as paying bills and financing inventory of commodities or other inventory stocks. Moreover, it makes available to its most creditworthy business customers stand-by lines of credit. Credits of up to GH¢250,000 for not more than 2 years are available to businesses and business owners who have proven to be very creditworthy by way of satisfactory deposit conduct, excellent credit repayment record, management of thriving businesses and the availability of sufficient and secure landed property.
Capital provides Mobile Banking loans to customers to meet their working capital needs such as paying bills and financing the acquisition of business goods, or for personal needs such as acquisition of assets such as furniture, a TV set, a refrigerator, or to pay school fees and rent advance. With this lending arrangement, the Bank aims to provide credit to its Mobile Banking customers.Credits of up to GH¢10,000 for not more than 12 months are available to customers who have proven to be creditworthy as borne out by satisfactory deposit conduct, excellent credit repayment record, the availability of sufficient and secure collateral.
With this lending arrangement, Capital aims to spread access to home ownership credit to all categories of workers, both in the formal and informal sectors. Capital will liaise with its home construction partners to arrange credit and build a desired house for a customer. The house so developed shall serve as collateral security for the loan until full payment is effected. Therefore, the Bank will exercise joint ownership of the house until full loan is achieved, and all records of ownership must satisfactorily reflect this. My-Home loans of up to GH¢200,000 for maturity periods of not more than 10 years are available to customers who have had at least 10% of the price of their desired house in a My-Home account at Capital.
The Building Completion loans are meant to help our cherished customers to have access to funds to finish the construction of their uncompleted buildings. Customers can also obtain these loans to modify or improve their buildings. They must prove ownership of the property and demonstrate that they earn incomes that will enable them to meet repayment obligations. The building being developed shall serve as collateral security for the loan until full payment is achieved. Therefore, the Bank will exercise joint ownership of the building until full loan repayment is achieved, and all records of ownership must satisfactorily be amended to reflect this. Building Completion loans of up to GH¢100,000 is available at Capital.
The Church Development Loan is a product meant to make credits accessible and available to churches within the Bank’s catchment area. The specific primary areas for the proposed credits support are: construction and renovation of church buildings, construction and renovation of mission houses, acquisition of furniture and fittings, acquisition of musical instruments, acquisition of T.V sets and projectors and any other relevant need that enhance the development of churches and maximum loan amount of GH¢200,000.00 (two hundred thousand Ghana Cedis).
Customers of the Bank who may not have the needed collaterals to secure loans may be considered for short-term credit extension if they could save at least 40% of the required amount in their accounts with the Bank. Maximum amount of Credits is GH¢2,000.00 for a maximum period of six months.
Customers who run Daakye and Target accounts may also be considered for short-term loans when need arises. Customers are entitled to access loan amounts of up to 80% of their savings in any of the above-mentioned accounts. The account balances shall be used as collaterals for such loans. The cash balances used as collaterals must be liened to cover the loan period.