Individual Loans
We provide different loan products to individuals in our society — fast, fair and built around your income.
Non-Payroll Loans
Financing For Life’s Emergencies
De-Mwananchi provides short term loans to individuals who are in employment or have proof of regular income. These products are issued to individuals requiring funding to meet emergency needs which may include school fees, medical bills, acquiring assets, building or expanding your home, refinancing loans and many other unforeseen expenses.
Requirements
- Know Your Customer (KYC) documents for applicant
- Proof of regular income by customer
- Three (3) months bank statements
- Proper information coordination
- Security (Land or property)
Key Features
Salary Loan Highlights
Short term in nature, financing needs that banks typically do not finance
Loan repayment period from 1 month to 60 months
Top-ups available after 50% payment of the initial loan
No collateral required
Early loan repayment allowed
Loan size depends on employee’s salary and tenure of loan
Step By Step
How Salary Loan Works
Sign MOU
De-Mwananchi and the employer sign an MOU. The employer agrees to facilitate payroll deductions and remit them together with a deduction schedule.
Employee Application
Three latest pay slips, financial card & National ID, three latest bank statements, and an introductory letter from the employer.
Review of Application
We confirm the employee’s pay is within MOU conditions, run a Credit Reference Bureau check, reconfirm employment status, and disburse within 24 hours once approved.
Monthly Repayment
De-Mwananchi submits the repayment schedule; the employer uploads deductions on payroll and transfers them until the loan is fully paid off.
Advantages
Advantages Of Salary Loan To Employee
- Access to quick and easy financing
- Finance for education, personal development and other short-term funding needs
- Interest rates are fixed over the tenor of the loan, providing peace of mind
- Short turnaround time between 1 hour and 24 hours
- Existing loan refinance — replace existing facilities with new loans
For Civil Servants
Instant Salary Advances
De-Mwananchi issues instant salary advance loans to civil servants. The documents required are as simple as below:
More Options
Other Individual Loans
Need funds fast?
Apply for an individual loan today and get a response within 24 hours.