Diaspora Borrow Plan
Credit for Productive Use
This product is the Main Credit facility designed for individuals who reside outside Malawi. These Malawian citizens non-resident in Malawi must be working or schooling outside the country but engaged in some economic activity.
Benefits
- Loan entitlement is Up-To 3x your cumulative savings.
- Access to low interest loans
- Opportunity to accumulate savings for productive future use.
- Earn lucrative returns on your savings better than traditional banks
- Access personalized and accessible service.
- Network with like-minded people
Eligibility & Requirements
- You must be a bae-MSME Fund member for a minimum of 6 months.
- The applicant must have lived in the resident country not less than 6 months.
- Loan up to 4x savings
- Maximum loan amount borrowed shall not exceed MK10, 000,000. Or $12,500
- Fixed rate of as low as low as 0.3% per day.
- Lamp-sum contributions made so you qualify for a higher loan amount are acceptable but are subject to 20% commission in line with loan policy.
- Pay processing fee of 1% of loan amount, subject to minimum of $100.
- The maximum repayment period shall be 24 months
- Show proof of ability to repay loan.
- Defaulters don’t qualify.
- Loan security is members’ own contributions and a charge on accepted security.
- If you are employed, attach 3 latest pay slips.
- Letter from employer confirming employment.
- Malawi National Identify or Passport.
Once you have completed the form and made all attachments, SEND by courier to the address below. Meanwhile Scan copies and email to: gaitonmuwowo@gmail.com
Bae-MSME Fund
P.O Box 31889,
Chichiri, Blantyre 3. MALAWI
CENTRAL AFRICA.
Phone : +265 995 817 760
: +265 885 737 749
Email : gaitonmuwowo@gmail.com
NOTE: Forms filled and mailed without required processing fee and supporting eligibility, documents may not be processed.