Loans

Institutional loans

This product is designed for institutions such as Schools, Hospitals, traditional authorities, etc.

  • Accessible by Institutions who have account with the Bank.
  • Negotiable interest rate
  • Flexible terms and conditions.
  • Loan amount is dependent on ability and capacity to repay.
  • Competitive interest rate
  • Resolution to borrow (in the case of limited liability companies)
  • Application letter for a loan
  • Valid national identification of authorised signatories to the account
  • One passport sized photograph of authorised signatories to the account
  • Provision of all relevant documents to be used as security for the loan amount
  • Audited account, cash flow statements (limited liability companies)
  • Allows for infrastructural development
  • Helps in the purchase of school buses/ vehicles and school learning equipment
  • Augment working capital such as payment of salaries

Hospitality loans

It is designed for hotels, guest houses, restaurants, eateries, entertainment centres, bars, etc.

  • Accessible by ventures who have account with the Bank.
  • Flexible repayment terms
  • Loan amount is dependent on ability and capacity to repay.
  • Competitive interest rate
  • Life insurance cover for death and permanent disability.
  • Application letter for a loan
  • Valid national identification of authorised signatories to the account
  • One passport sized photograph of authorised signatories to the account
  • Provision of all relevant documents to be used as collateral for the loan amount
  • Allows for infrastructural development
  • Helps in the purchase of buses/ vehicles for industry players.
  • Augment working capital

Agro Loan

It is designed to cater for the farming needs of crop farmers, poultry farmers and animal husbandry farmers.

  • Loan amount is dependent on ability and capacity to repay.
  • Competitive interest rate
  • Flexible repayment terms
  • Resolution to borrow (in the case of an association)
  • Application letter for a loan
  • Valid national identification of authorised signatories to the account
  • One passport sized photograph of authorised signatories to the account
  • Provision of all relevant documents to be used as collateral for the loan amount
  • Expansion of farm inputs
  • Augment working capital needs

Cottage Industry Loan

It is designed for Small and Medium Scale Enterprises such as block manufacturers, Fashion Designers

  • Available to customers of ARB
  • Loan amount is dependent on ability and capacity to repay
  • Flexible repayment terms
  • Competitive interest rate
  • Life insurance cover for death or permanent disability.
  • Application letter for a loan
  • Valid national identification of applicant
  • One passport sized photograph of applicant
  • Provision of all relevant documents to be used as collateral for the loan
  • Augment working capital
  • Structural and infrastructural development
  • Expansion

Transport loan

It is designed for transport unions as well as individual transport owners and operators.

  • Available to customers of ARB
  • Can be used to purchase either brand new or home used vehicles(not more than years from date of manufacture)
  • Loan amount is dependent on ability and capacity to repay
  • Flexible repayment terms
  • Competitive interest rate
  • Life insurance (for individual transport operators)
  • Comprehensive insurance on vehicles
  • Resolution to borrow (in the case of Union)
  • Application letter for a loan (in the case of individual transport owners)
  • Valid national identification signatories to the account
  • One passport sized photograph each of signatories to the account.
  • Provision of all relevant documents to be used as collateral for the loan
  • Provision of cash security
  • Executive guarantee (in the case of unions)
  • Increases the fleet of vehicles
  • For maintenance
  • Provides a solid platform for unions

Asore Nkoso loan

It is designed for all churches with the aim of providing a comfortable place of worship with excellent ambiance.

  • Available to churches that operate account with ARB
  • Loan amount is dependent on ability and capacity to repay
  • Flexible repayment terms
  • Competitive interest rate
  • Evidence of weekly deposit of offerings and tithe for a minimum of 1 month
  • Resolution to borrow
  • Valid national identification of authorised signatories to the account
  • One passport sized photograph of authorised signatories to the account
  • Provision of all relevant documents to be used as collateral for the loan amount
  • Enjoyment of comfort
  • Lower interest rates
  • Quick and convenient

Afahye loan

It is to meet the urgent demand of salaried workers and pensioners during festivals.

  • Prompt approval on submission of all relevant documents
  • Attractive interest rate
  • Maximum duration of 6 months
  • Accessible by all salaried workers and pensioners who are customers of ARB
  • Must meet  a debt service ratio of 40%
  • Application letter
  • Valid national identification
  • One passport sized photograph of applicant
  • Provision of guarantors
  • Access to cash during festive periods such as Easter, Odwira and Christmas
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Funeral loan

It is designed to meet the urgent demand for money for burial and final funeral rites of family members of customers of ARB.

  • Accessible by all customers of Akwapim Rural Bank
  • Prompt approval on submission of all relevant documents
  • Maximum duration of two (2) months
  • Competitive interest rate
  • Prompt approval on submission of all relevant documents including a resolution to borrow duly signed by the head of family and one other family member.
  • Valid national identification of all representatives of the family
  • One (1) passport size photograph of representatives of the family
  • Quick access to cash during bereavement to ensure a befitting funeral for departed loved ones.

Akusika loan

It is designed for all contributors to the Akusika Susu Scheme such as traders, artisans, business men and women, etc.

  • Must be a contributor to the Akusika Susu Scheme
  • Enjoy a loan facility of up to three (3) consecutive months of your contribution
  • Competitive interest rates
  • Flexible repayment terms
  • One must have contributed to the Akusika Susu Scheme for a consistent minimum period of three (3) months
  • Business expansion
  • Augment working capital needs

Salary Advance

It is designed for all salaried account holders of Akwapim Rural Bank

  • Prompt approval on submission of all relevant documents
  • Maximum duration of three (3) months
  • Salaried customers to guarantee
  • Loan amount to determine number of guarantors
  • Application letter
  • Provision of two(2) guarantors
  • Prompt access to financial assistance
  • Access to finance on the same day
  • Helps in meeting pressing financial needs

Salary Loans

It is designed to meet the financial needs of all salaried account holders of the bank.

  • The minimum tenure period is 6 months and maximum of 60 months.
  • Insurance cover on loan against death and permanent disability.
  • Competitive interest rate
  • Application letter
  • Valid national identification
  • Provision of three(3) guarantors
  • Undertaken from employers
  • One passport size photograph of applicant
  • Prompt response to financial crisis such as:
  • Acquisition of consumer goods
  • Payment of school fees
  • Payment of medical bills
  • Settling of domestic issues, etc.

Microfinance Credit with Education (loan)

It is designed for all women who are engaged in income generating activities.

  • Must be a woman who is 18 years or above
  • Must be a member of od the Credit Savings Association of the bank
  • Group guarantee
  • No collateral needed to access loan
  • Free training services for women
  • Augment working capital

Akusika Group Loan

It is designed for all men and women who are engaged in legal economic activities and are unable to get guarantors to secure their loans.

  • Competitive interest rate
  • Flexible repayment terms
  • Amount accessed is dependent on  individual’s daily susu contribution
  • Must be a member of the Akusika Susu group contributing with the same susu agent
  • Must be 18 years or above
  • Augment working capital
  • Business expansion