Liberia Pay After
Who is eligible for the product?
- Everybody!!!
Conditions for the applicants
- Must operate a regular salary account with SIBLL.
- Employers agree to support both employee and the bank on terms and conditions of the contract to the benefit of all parties.
- Non-salaried applicants may provide guarantors.
Items that can be purchased under the LPA.
- Basic household items
- Building materials
- Electrical & electronic goods
- Cars
- Others that may be negotiated for by applicant and the supplier
Repayment.
- Fixed regular payment amount until fully paid.
- A 10% compulsory down payment of the cost of the item.
- The 90% difference is spread over an agreed number of months depending on the worth of the item purchased.
- Interest payment is graduated depending on the cost and duration of indebtedness.
|
AMT (COST OF ITEMS) EXPRESSED IN USD |
DURATION OF PAYOFF EXPRESSED IN MONTHS |
|
500 |
12 |
|
501 – 2,000 |
12 |
|
2,001 – 6000 |
18 |
|
6,001 - 10,000 |
18 |
|
10,001 - 15,000 |
18 |
|
EXCESS OF 15,000 |
NEGOTIABLE |
- Depending on the worth and value of the item, vis-a vis the period of indebtedness, the bank may demand an insurance cover as part of the contract between the client and the bank.
- The insurance company would be obliged to agree to terms not exceeding 3% of item value
- The insurance premium will be borne by the client.
- Premium will be paid up front directly to the Insurance Company account with Sapele International Bank Liberia Limited.
