Multicredit saving and loans formerly known as Garden city savings and loans ltd is a limited liability company which has the legal authorisation form the Bank of Ghana to carry on the business of saving and loans as number 0027. Bank of Ghana has given licence to this institution in conformity with the provision of the financial institution (PNDC) law to mobilize deposits from the public and grant loan and other credit facilities to its customers.
In this article, I will be giving some brief information about Multicredit saving and loans. This institution comes with a vision to become Leading Financial Institution for wealth creation to all stakeholders and a mission to develop demand and driven financial products and services and make them accessible to the market.
Jump To
MULTICREDIT SAVINGS AND LOANS PROUCTS
SAVING ACCOUNT
Features
- Less cumbersome account opening procedure
- Minimum opening balance is GHS5
- Minimum operating balance is GHS10
- Minimum balance to qualify for interest is GHS20
- Attractive Interest Rates
- Interest is calculated daily and applied monthly
- Up to four withdrawals per month
Requirements
- Valid ID Card
- 1 passport picture
- Utility bill (should not be more than 3 months)
- 1 reference from a current account holder with a recognized Bank or Savings and Loans Company or Letter from employer
- Resident permit (for foreign nationals)
FIXED DEPOSIT
Features
- Less Cumbersome procedure
- Minimum investment of GHS1,000
- Terms available: 30 days, 91 days, 182 days and 1 year
- Certificate of investment is issued
- Attractive interest rate
- Interest is calculated daily
Requirements
- Valid ID Card
- 1 passport picture
- Utility bill (should not be more than 3 months)
- Resident permit (for foreign nationals)
SME LOANS
Features
- Less cumbersome procedure
- Flexible amounts to meet the needs of all levels of businesses
- Quick Turnaround time
- Term: Up to 60 months
- Competitive interest rates
- Flexible repayment terms
Requirements
- Identity and proof of address of directors or promoters
- Identity and proof of address of entity
- Board Resolution
- Company Registration documents
- Audited Financial statements for the last 3 years
- For non-customers, six (6) months bank statement would be required
- Security may be required
SUSU ACCOUNT
Features
- Less cumbersome account opening procedure
- Minimum opening balance is GHS1
- Access to a free Pass Book
- Personal Field Banker
- Unlimited withdrawals
- Lower interest on susu loans
- Instant Confirmation of daily deposit
- Minimum daily contribution is GHS1
- Minimum contribution to qualify for a loan is 2months
- Minimum loan amount is GHS200
- Loan maturity profile:
Requirements
- Valid ID Card
- 1 passport picture
- Utility bill (should not be more than 3 months)
CURRENT ACCOUNT
Features
- Less cumbersome account opening procedure
- Minimum opening balance is GHS10
- No minimum operating balance
- Access to a cheque book
- No Commission on Turnover (COT)
Requirements
- Valid ID Card
- 1 passport picture
- Utility bill (should not be more than 3 months)
- 1 reference from a current account holder with a recognized Bank or Savings and Loans Company or Letter from employer
- Resident permit (for foreign nationals)
- Resolution from the Board
- Business registration documents (Businesses only)
SOME ELECTRONIC SERVICES
- Western Union Money Transfer
- MoneyGram
- Vigo
- Small world
- E-zwich
- MTN Mobile Money
CONTACT INFORMATION
Head Office – Bantama
Bantama High Street. Opposite Bantama Market.
Box 1920 Adum – Kumasi
Telephone: 032 2037418
E-mail: [email protected]
Website: www.mcslghana.com
READ MORE BY CLICKING ON THE LINK BELOW
IZWE LOANS REPAYMENT SCHEDULE. HOW TO REPAY
ASA SAVINGS AND LOANS. WHAT YOU SHOULD KNOW
BOND SAVINGS AND LOANS. WHAT YOU SHOULD KNOW
CURRENT INTEREST RATE ON LOANS IN GHANA
