Islamic Investment & Finance
Cooperatives Group

Employee Loans

Employee Loans

Employee loans are given to the employees of government and established private companies. Employees can use the loans to provide investment to their family members to start or expand their businesses, invest in agriculture activities, invest in service sector and for investing in education, house repair etc

BRANCH - Employee Loan

Features Details
Product
  1. Target Clients: Monthly Salaried Employees of both Government and established private companies
  2. Loan Size: AFN 25,000 – AFN 150,000 (Loan Size would be decided by requested loan amount and loan applicant’s cash flows)
  3. The loan amount should be 35% of annual salary of the Employee.
  4. Loan Repayment Term: Monthly equal installments and maximum 12 monthly installments.
  5. Mark-up payment: Borrowers have to remit Mark-up on monthly basis along with installment amount.
Price
  1. For loans, the Mark-up is 24% pa, on declining balance.
  2. Borrowers have to deposit 10% of the loan amount as Pledge Savings which would be returned at the time of completion of loan repayment.
Place
  1. Cash flow Analysis is done at borrower’s location
  2. Loan Disbursement and Loan repayment collection done at BRANCH Office
Physical Evidence
  1. Loan application Form
  2. Tazkira of both Loan Applicant and Guarantors
  3. Residence Certificate Endorsement Letter
  4. Guarantor Form (one Guarantor for AFN 50,000)
  5. Promissory Note
  6. Credit Committee Meeting minutes
  7. Printed receipt
  8. Member Loan Pass Book
  9. Employment certification/ endorsement of Company/Department Head

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