Bayport Financial Services was established and opened for business in 2003 it was the second financial services operation and was measured by the number of loans. it has in history that it has two operations in Ghana. Following the incorporation in 2017, the new company has 57 branches, almost 800 permanent employees, and more than 2 000 mobile sales agents. Bayport Ghana is one of the best leading credit providers and a well-known and preferred brand.
In this article, we will look at Bayport saving and loans and their loan packages. If you need an urgent loan please visit any branch of Bayport in the country and you will be sorted out nicely. Their loans packages suit every member of the society and repayment terms are conducive and affordable.
Jump To
PRODUCTS OFFERED BY BAYPORT
- Payroll Loans
- Retail Loans
- Bayport Micro
- Transacting and Fixed Deposit Accounts
- Insurance
LOANS OFFERED BY BAYPORT
This product set includes loan products, both retail and payroll. Payroll loans are collected through employers’ payrolls. It is the mainstay of Bayport’s credit business and is built on relationships with employers as much as individual customers. In many markets, government employees are the bulk of payroll loan customers.
Retail loans are recovered through direct payments, preferably through debit orders. The different operations have designed innovative retail loans, such as the car title-backed loan in Ghana and NipeBoost loan facility in Tanzania. Certain operations also offer loans to informal traders and micro-enterprises. All personal loans are secured with Credit Insurance. Bayport has developed its credit insurance product, which makes it competitive in its local markets.
SOME OTHER SERVICES PROVIDED BY BAYPORT
My Savings
This offer gives customers the option to save with a simple savings account or through a flexible fixed deposit product.
The fixed deposit accounts are unusually flexible. They allow you to choose for how long you want to invest your money and how you want to receive the interest – monthly, quarterly, or at the end of your investment term.
The savings and fixed deposit accounts carry no setup, monthly maintenance, service, or transaction fees.
My Money
This offer makes customers’ money work for them with a transaction account that earns good interest and charges zero fees.
The transactional account attracts no service or transaction charges and gives customers access to competitive interest rates, mobile banking, e-wallets, payment kiosks, and ATM services. There is no minimum opening or operating balance, no monthly account fee and you can earn good interest on your balance.
My Cover
This is a cover that does not break the bank and that gives you peace of mind knowing you and your family are covered.
Insurance is a relatively recent addition to the Bayport product set. Yet, it has already proven to be popular with customers across markets. Products include education protection plans, hospital cover, and funeral cover. The South African funeral insurance product includes innovative value-added features and living benefits that make it competitive in the local market.
Bayport Management Ltd owns 51% of Traficc, a company specializing in insurance products and solutions. Traficc is our insurance team that manages all our insurance programs. To learn more about Traficc, go to www.traficc.co.za.
