salary loan will examine the list of salary loans in Ghana in this article. If you work as a salaried individual and require immediate cash to address an emergency, you can apply for a loan at one of the following institutions.

What is a salary loan?

A salary loan is a loan given to salaried workers who have an active bank account where their monthly income is being paid to take care of their personal needs.

This type of loan has a very low interest rate as compared to other types of loans. The majority of loans are for small sums, and they are determined by the borrower’s monthly earnings.

Requirements for Salary Loans in Ghana

Before applying for a loan, there are always prerequisites to fulfill. Most of these standards typically provide the lender with sufficient details about the borrower.

You need to meet the following requirements:

  • Completed loan application
  • Ghanaian national identity card
  • Identity card for the workplace
  • A single passport photo
  • Your tax identification card
  • A letter confirming employment
  • Your Bank Verification Number (BVN)
  • A check with a future date on it covering the loan’s entire term
  • Account statement with three months’ worth of paystubs
  • Salary starts at GHS 500 and goes up from there.
  • A coworker as a guarantor.
    Equal monthly payments

List of Banks that offers Salary Loans

1. Fidelity Bank

  • Employer Managed Loan

The Employer Managed Personal Loan is a medium-term option created for salaried workers in businesses listed under the banks authorized Employer Managed Salaried Programme. It provides better benefits, a repayment schedule, and reduced rates.


  1. No security is needed.
  2. Flexible payment plans available for up to 60 month
  3. Fast and simple loan application procedure
  4. Competitive loan interest rates
  5. More substantial loan amounts, up to GHS 200,000
  6. Refinance your current loan after three months ( Terms & Conditions apply)
  7. Credit life insurance provides protection from death, total and permanent incapacity, and layoffs.
  8. Transfer of loans with favorable terms from other banks (Terms & Conditions apply)


  1. A maximum debt service ratio of 50% (depends on net monthly salary)
  2. The longest loan period is 60 months (depends on net monthly salary)
  3. GHS 200,000 is the maximum loan amount.
  4. Pricing: negotiated low-interest rate with the employee
  5. GHS 700 is the required minimum net monthly salary.
  • Employee Salary Advance

The employee salary advance facility is created to provide employees of profiled (chosen) firms with a personal overdraft product suited to address urgent cash flow requirements between paydays or prior to the next pay cheque or salary date.

  • Salary Backed Loan

The Salary Backed Loan is intended to assist staff members of profiled (chosen) organizations in addressing their immediate and long-term financial requirements.

It provides a straightforward loan application process, an adaptable payback schedule, and reasonable lending rates.


  1. No security is needed.
  2. Repayment terms that are flexible up to 48 months
  3. Fast and simple loan application procedure
  4. competitive loan interest rates
  5. Borrowing maximum GHS 150,000 (Terms & Conditions apply)
  6. Boost your current loan
  7. Credit life insurance provides protection from death, total and permanent incapacity, and layoffs.
  8. Transfer your loan from several banks at a discount (selective)


  1. Up to 45% of debt service ratio
  2. 48 months is the maximum loan term.
  3. GHS 150,000 is the maximum loan amount.
  4. Interest rates that are competitive
  5. The assumption of an existing loan
  6. Repayment through standing order from the Fidelity Salary Backed Account
  7. The minimum net monthly wage required is GHC1,000.
Salary Loans in Ghana
Salary Loans in Ghana



  1. Lending range: GHS 500 – GHS 20,000
  2. Revolving credit facility with a 12-month minimum repayment term
  3. Flexibility to exceed a limit that has been set
  4. Having the capacity to cover checks that would otherwise bounce
  5. For a year, there is an overdraft limit that must be reimbursed each month.
  6. The limit is updated and made available for reuse after a year.
  7. Fixed rate of interest
  8. Simple approval
  9. Access to your money right away
  10. There are no delays
  11. Simple application procedures and rapid approval turnaround times
  12. Advanced assistance to make it easier for you to manage your loan
  13. There is a credit life insurance policy that protects against death and permanent disability.


  1. To apply, you must be at least 18 years old.
  2. The paid workforce is eligible for this loan program.
  3. If you’ve maintained a salaried account with Absa for at least six months, you may be eligible for an employee salary overdraft.
  4. They will require proof that you are employed permanently.
  5. A national ID card (or passport for non-Ghanaians).
  6. A filled out the application for an overdraft.
  7. Newest pay stub.
  8. A bank records for six months (for new-to-bank customers).

3. Stanbic Bank

  • Fixed Term Loans (FTL)

If you make a minimum net monthly wage of GHS 700, a short-term personal loan is the best option for you.

  • Salaried Earners Scheme (Non-Guarantee)

A short- to medium-term personal loan designed for salaried members of our Workplace Banking Group Scheme who have a minimum net salary of GHS 500 per month at negotiated preferential rates.

  • Revolving Term Loan (RTL)

If you make a minimum net monthly wage of GHS 1000, you may qualify for a short- to medium-term revolving personal loan.


Read Also: Ecobank credit card: How to apply

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