What is Faulu Check-off Loan?
Working in a parastatal, TSC or the armed forces? Do you work for corporate companies that pay a monthly salary? This is the product for you. It is a facility tailored for salaried customers whose terms of engagement are dictated by an MOU between the Bank and the respective institutions. Apply today and it will only take 24 hours for your loan to be approved. This is subject to verification of all documents.
- 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