What is Faulu Check-off Loan?
- Loan repayment period of up to 96 months
- Access to a 1% Discount on processing fees for customers whose salary pay point is the bank (One-time)
- Free Last Expense Coverfor the borrower
- 24 hours for loan approval subject to verification of all documents
- Three original current consecutive payslips (certified by the employer)
- Original and copy of your National ID
- Duly filled loan application form
Note: You don’t need guarantors if Faulu is your pay point
- Monthly check-off by the Corporate
- Two Guarantors who must be from the same employer (if pay point is not with Faulu)
- Net income after loan deduction must not be less than 1/3 of total net income
Yes you can top up your loan.
All you need to do is get in touch with your Relationship Manager or visit your nearest Faulu branch.
You also need to have serviced the loan for at least six (6) months without any arrears