Fidelity Bank is headquartered in Lagos and founded in 1988. it’s one of popular commercial banks in Ghana which was given it’s Universal Banking License on June 28, 2006, making it the 22nd bank to be licensed by the Bank of Ghana. It is one of the twenty-seven licensed commercial banks in the Ghana. it was founded in1988 and headquartered in Lagos.
In this article, We will look at the various loans you can acquire at fidelity. Why use your future savings or investment now when you can access a Fast and Easy loan, and pay it back over 12 months period at the lowest net interest rate. There are also many convenient services they provide such as transactional account, investment, prestige banking, digital banking, Bancassurance.
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LIST OF FIDELITY BANK LOANS
Fast and Easy Loan
The Fidelity Fast and Easy loan is a short-term facility designed to give existing and new bank customers access to easy and quick loans in less than 24 hrs at a low REAL interest rate of 10% p.a.
Benefits:
- Get a loan at the lowest REAL interest rate of 10% p.a.
- Enjoy flexible monthly, quarterly, or one-time repayment options
- Fast and easy loan process in less than 24 hrs
- No extra or hidden charges
- Improve your credit rating
- No processing or administrative fees
- Get back 10% of the total interest you paid on your loan after 12 months repayment
Features
- Minimum loan amount – GHS2,000
- No maximum loan amount (LTV 90%)
- Real (net) interest rate of 10% p.a.
- Maximum loan period – 12 months
- Repayment plan – monthly, quarterly, or one-time repayment
- Secured with savings or investment account GHS; USD; EUR or GBP
Salary Backed Loan
Our Salary Backed Loan is designed to support employees of profiled (selected) organizations to meet their short to medium-term financial needs. It offers a simple loan process, a flexible repayment plan, and competitive loan rates.
Benefits:
- No collateral required
- Flexible repayment periods up to 48 months
- A quick and easy loan application process
- Competitive interest rates on loan
- Borrow up to GHS 150,000 (Terms & Conditions apply)
- Top up your existing loan
- Credit life insurance cover against retrenchment, total permanent disability, or death
- Transfer your loan from other banks at concessionary terms (selective)
Features:
- Debt service ratio of up to 45%
- Maximum loan term – 48 months
- Maximum loan amount-GHS 150,000
- Competitive interest rates
- Takeover of an existing loan (Terms & Conditions apply)
- Repayment from Fidelity Salary Backed Account via standing order
- Qualifying minimum net monthly salary is GHc1,000
Employer Managed Loan
The Employer Managed Personal Loan is a medium-term facility designed for salaried employees working in organizations listed under our approved Employer Managed Salaried Programme. It offers enhanced benefits, a repayment plan, and lower rates.
Benefits:
- No collateral required
- Flexible repayment periods up to 60 months
- A quick and easy loan application process
- Competitive interest rates on loan
- Higher loan amounts – up to GHS 200,000
- Top up your existing loan after 3 months ( Terms & Conditions apply)
- Credit life insurance cover against retrenchment, total permanent disability or death
- Transfer of loans from other banks at concessionary terms (Terms & Conditions apply)
Features
- Debt service ratio of up to 50% (depends on net monthly salary)
- Maximum loan term – 60 months (depends on net monthly salary)
- Maximum loan amount – GHS 200,000
- Pricing: concessionary interest rate negotiated with the employer
- Qualifying minimum net monthly salary is GHS 700
Employee Salary Advance
Our employee salary advance facility is designed to support employees of profiled (selected) organizations with a personal overdraft product tailored to meet the short-term cash flow needs in between paydays or before the next pay cheque or salary date.
What we offer
- Up to 60% of net monthly salary
- Interest rate calculated on ONLY the utilized amount
- Flexible repayment of up to 3 months
- Competitive interest rates on borrowings
- A quick and easy loan application process. (Available on the Fidelity Mobile app Apply in the comfort of your location)
How to get it
To qualify for the loan you must be:
- Working for any of Fidelity Banks’ profiled organizations or Self-employed customers with verifiable consistent income flows
- Employed for duration above 12 months and confirmed
- Over 21 years and under 60 years by the end of the loan term
How to apply and what you need
- Complete a Salary Advance request form or apply via the Fidelity Bank Mobile app and provide the following documents:
- Last 3 months payslips
- Signed Customer Acceptance letter and Employer Confirmation
Public Sector Source Deduction Loan
Our loan application process is designed to support public sector employees on the Controller and Accountant General’s Department payroll to meet their short to medium-term financial needs.
It offers a simple loan, a flexible repayment plan, and competitive rates
What we offer
- No collateral required
- Flexible repayment periods up to 48 months
- A quick and easy loan application process
- Competitive interest rates on loan
- Borrow up to GHS 300,000 (Terms & Conditions apply)
- Top up your existing loan
- Credit life insurance cover against retrenchment, total permanent disability, or death
How to get it
To qualify for the loan you must be:
- A public sector worker on controller and Accountant General’s payroll
- Over 21 years and under 60 years by the end of the loan term
How to apply and what you need
Complete a Direct Source Deduction Loan application form and provide the following documents:
- Last 3 months payslip
- Passport picture
- Valid National ID
- E-mandate form
- Loan Advance
- Authority Note
- Letter of undertaking from employer
Auto Loan
Get your dream car with our Personal Auto Loan facility tailor-made for you. This is a medium-term facility available to salaried employees of organizations under Fidelity Bank’s Employer Managed Relationship. Simply apply for a Personal Auto Loan and enjoy a flexible repayment plan at competitive rates.
Benefits:
- No collateral required
- Flexible repayment periods up to 60 months
- A quick and easy loan application process
- Competitive interest rates on loan
- Higher loan amounts – up to GHS 350,000
- Covers both brand new and slightly used vehicles
- Transfer of loans from other banks at concessionary terms (Terms & Conditions apply)
Features:
- Debt service ratio of up to 50% (depends on net monthly salary)
- Repayment period from 12 – 48 months (60 months for selected professionals)
- Finance new and used vehicles (used vehicle not more than 5yrs from the date of manufacture and not more than 36 months of use)
- Minimum net monthly salary of GHS4,000 and above (including allowance)
Home Finance
To assist you to purchase Turnkey Residential properties for personal use or investment purpose.
What we offer:
- Exclusive offers from our partner developers
- Access to long term funding to acquire homes
- Loan amounts of up to 80% Open Market Value of property
- Competitive interest rates on borrowings
- Flexible repayment terms of up to 20 years
- Debt Service ratio of up to 50%
How to get it
To qualify for the loan you must be:
- Work for any Fidelity profiled organisation or Self-employed customers with verifiable consistent income flows
- Employed for duration above 12 months and confirmed
- Over 21 years and under 60 years by the end of the loan term
How to apply and what do you need
Complete a Home Financing request form and provide the following documents:
- Letter of undertaking from the employer
- Last 3 months payslips
- Valid National ID
- Title documents of the property (Land Title Certificate)
- Valuation report (from an FBL recommended valuer/quantity surveyor )
- Offer letter from the vendor
- Proof of minimum down payment or equity contribution of 20% towards the purchase price of the property
- Hazard or Allied Perils Insurance policy on the mortgaged property against fire and other allied perils/natural disasters to cover the Open Market value
- Mortgage Life insurance covering the total loan amount with FBGL’s as Primary Loss Payee
- Clean search on Credit Bureau
How to get it
To qualify for the loan you must be:
- Work for any Fidelity profiled organisation or Self-employed customers with verifiable consistent income flows
- Employed for duration above 12 months and confirmed
- Over 21 years and under 60 years by the end of the loan term
How to apply and what do you need
Complete a Home Financing request form and provide the following documents:
- Letter of undertaking from the employer
- Last 3 months payslips
- Valid National ID
- Title documents of the property (Land Title Certificate)
- Valuation report (from an FBL recommended valuer/quantity surveyor )
- Offer letter from the vendor
- Proof of minimum down payment or equity contribution of 20% towards the purchase price of the property
- Hazard or Allied Perils Insurance policy on the mortgaged property against fire and other allied perils/natural disasters to cover the Open Market value
- Mortgage Life insurance covering the total loan amount with FBGL’s as Primary Loss Payee
- Clean search on Credit Bureau
Home Equity
To assist you in wealth creation or meeting personal cash needs by unlocking the value in your existing property.
What we offer
- An opportunity to unlock the value of property to meet financial needs
- Loan amounts of up to 70% Open Market Value of property
- Competitive interest rates on borrowings
- Flexible repayment terms of up to 20 years
- Debt Service ratio of up to 50%
How to get it
To qualify for the loan you must be:
- Work for any Fidelity profiled organization or Self-employed customers with verifiable consistent income flows
- Employed for duration above 12 months and confirmed
- Over 21 years and under 60 years by the end of the loan term
How to apply and what do you need
Complete a Home Financing request form and provide the following documents:
- Letter of undertaking from the employer
- Last 3 months payslips
- Valid National ID
- Title documents to the property (Land Title Certificate)
- Valuation report (from an FBL recommended valuer )
- Hazard or Allied Perils Insurance policy on the mortgaged property against fire and other allied perils/natural disasters to cover the Open Market value with FBGL as Primary Loss Payee
- Mortgage Life insurance covering the total loan amount with FBGL as Primary Loss Payee
- Clean search on Credit Bureau
Home Completion
To assist you purchase and complete your dream home from our list of developers to your own specification and taste
What we offer
- Reserved for only Shell completed houses from approved FBGL Developers. Shell property must be completed within12 months from the date of disbursement of the facility
- Loan amounts of up to 80% of the sale value of Shell House property or Bill of Quantities to complete the Shell House
- Competitive interest rates on borrowings
- Flexible repayment terms of up to 20 years
How to get it
To qualify for the loan you must be:
- Work for any Fidelity profiled organization or Self-employed customers with verifiable consistent income flows
- Employed for duration above 12 months and confirmed
- Over 21 years and under 60 years by the end of the loan term
How to apply and what do you need
Complete a Home Financing request form and provide the following documents:
- Letter of undertaking from the employer
- Last 3 months payslips
- Valid National ID
- Title documents to the property (Land Title Certificate)
- Bill of Quantities, Building Plan & Building Permit from an FBGL recommended value
- Construction schedule, estimates and financing plan to complete shell property within 24 months from date of disbursement of the facility to vendor
- Architecture Drawings, 3D impression, and Plan
- Hazard or Allied Perils Insurance policy on the mortgaged property against fire and other allied perils/natural disasters to cover the Open Market value with FBGL as Primary Loss Payee
- Mortgage Life insurance covering the total loan amount with FBGL as Primary Loss Payee
- Clean search on Credit Bureau
- Submission of a contract between Building Contractor and Mortgagor.
- Submission of Certificate of Classification from the Ministry of Water Resources Works and Housing for the contractor
- Submission of Building Permit from the Metropolitan/ Municipal Assembly.
- Supporting documents confirming the contractor’s track record and ability to execute similar projects are required.
Home Improvement
To assist you fund additions and improvements to an existing property.
What we offer
- Loan amounts of up to 70% of Bill of Quantities or Pro forma Invoice
- Property improvement must be completed within 6 months from the date of disbursement of the facility
- Competitive interest rates on borrowings
- Flexible repayment terms of up to 20 years
- Debt Service ratio of up to 50%
How to get it
To qualify for the loan you must be:
- Work for any Fidelity profiled organization or Self-employed customers with verifiable consistent income flows
- Employed for duration above 12 months and confirmed
- Over 21 years and under 60 years by the end of the loan term
How to apply and what do you need
Complete a Home Financing request form and provide the following documents:
- Letter of undertaking from the employer
- Last 3 months payslips
- Valid National ID
- Title documents to the property (Land Certificate)
- Bill of Quantities, building plan & building permit from an FBGL recommended valuer.
- Construction schedule, estimates, and financing plan to complete improvement of property within 6 months from date of disbursement of the facility to vendor
- Architecture drawings, & 3D impression
- Hazard or Allied Perils Insurance policy on the mortgaged property against fire and other allied perils/natural disasters to cover the open market value with FBGL as Primary Loss Payee
- Mortgage Life insurance covering the total loan amount with FBGL as Primary Loss Payee
- Clean search on credit bureau
- Submission of a contract between building contractor and mortgagor.
- Submission of building permit from the Metropolitan/ Municipal Assembly.
- Supporting documents confirming the contractor’s track record and ability to execute similar projects are required.
Serviced Plot Finance
Designed to assist Fidelity customers to acquire/ purchase serviced land in well serviced, secured locations for the purposes of constructing a home for a private residence. The product serves as a boost to building your dream home at your own pace.
How to get it
- The applicant must be a salaried employee working for a Profiled Organization.
- FBGL staff with at least 3 years of permanent employment
- Minimum 1-month salary drop plus 6 months account statement
- Foreigners with valid work and residence permit
- Unexpired lease term on a serviced plot with mini.. 30 years lease
- Repayment Mode: Monthly equal installments.
- 20% Equity contribution required
- Duration of employment (minimum)- 6 months and confirmed.
- Evidence of earlier confirmation is required.
- Property/ estate developer must have Land Title Certificate over serviced plots on sale
- Property/ estate developer must be a member of GREDA in good standing
How to apply and what do you need
Complete the facility request form and provide the following documents:
- Letter of undertaking from employer (attached in the Facility application form)
- Last 3 months pay slip
- Account statement for the last 6 months (from the previous bank)
- Invoice from Estate Developer listed in Fidelity bank’s approved estate developers
- Original title documents (Registered Land Title Certificate) on Serviced Plot pledged as security
- Signed transfer land title document retained by Fidelity bank.
- Photocopy of valid National Identification (passport, driver’s license, voter’s registration card) of guarantor(s) required, and must be verified as a true image of the guarantor.
- One passport size photograph
- Consent letter to mortgage land to Fidelity Bank Ghana Limited
Personal Asset Finance
This is a short-term credit facility designed to assist salaried workers with Fidelity bank account, purchase personal assets from selected partner vendors with a repayment period of up to 12 months.
The credit arrangement covers the purchase of household appliances, furniture, and electronic items.
What we offer:
- No collateral required
- 0% interest rate for repayment within twelve (12) months
- A quick and easy loan application process
- Competitive interest rates on loan
How to get it
To qualify for the loan you must be:
- Working for any of Fidelity Banks’ profiled organizations or Self-employed customers with verifiable consistent income flows
- Employed for a duration above 6 months and confirmed
- Over 21 years and under 60 years by the end of the loan term
How to apply and what do you need
You must complete a Personal Asset Finance request form and provide the following documents:
- Last 3 months payslip
- Proforma invoice from a vendor stating type and value of the asset being purchased( Invoice should not be more than one week old)
- 1 passport picture
- Valid National ID
READ MORE
FIDELITY BANK INVESTMENT PACKAGES
FIDELITY FLIP ACCOUNT. WHAT YOU NEED TO KNOW
LIST OF LOANS FOR FARMERS IN GHANA
