FAQs

Loans

What loan products do you offer?

Our loan products range from individual to group loans. They include Business loans, Express loans, Small Enterprise loans, Small Group Loans and Village Banking loans.

How long does it take for one to access a loan from FINCA?

Our loan processing speed relies on how fast you provide the necessary requirements. However, you will receive feedback from us within 2 days after submitting all the necessary requirements.

How much do I have to pay back monthly?

Your regular monthly repayment/installment depends on the approved loan period and loan amount (The longer the loan period, the less the loan Installment).

How often am I required to pay back?

An appropriate monthly repayment schedule to suit your needs will be advised depending on the date you accessed the loan.

How much loan amount can i access from FINCA?

Our loan amounts range from MWK20,000 to MWK75,000,000 depending on the type of loan and capacity of the borrower.

What securities do you require for one to access a loan?

Depending on the loan type and loan amount, securities can range from household items/ appliances, chairs to assets such as buildings, cars, etc…


Savings

What are the requirements for opening a FINCA Saver account?

For Malawians: 1. A valid identity card (Passport, Voter’s card, National ID, Driver’s License, or Employee ID) 2. Introduction letter from the local government/ village head 3. Location verification through utility bill payment receipt (Escom or WaterBoard) 4. MK500 account opening balance For Non-Malawians: 1. The accepted ID cards are Passport and Work/Residence Permit NB: Passport photographs are taken at the branch for free.

What are the benefits for Saving with FINCA?

Have your money (savings) safe and secure while at the same time accumulating competitive interests and having unlimited access to it without either monthly account maintenance charges or transaction charges.

What is the minimum account balance for a FINCA Saver account?

Being a Microfinance bank that believes in and promotes financial inclusion, FINCA tailored its Saver Account with no minimum account balance so that everyone can embrace the savings culture in Malawi.

Who is eligible for FINCA Fixed Deposit Account?

Individuals, Institutions or Companies that wish to save and grow their money in an easy and risk free way while accruing highly competitive interests within a specific period of time.

What can i benefit from opening and having a Fixed Deposit Account with FINCA?

Being a FINCA Fixed Deposit Account holder comes with a wide range of benefits that includes an option to get upfront interest payment to be accrued in an agreed period, negotiable, flexible and competitive interest rates while the account can also be used as collateral to access a loan.


FINCA eXpress Banki Pachala

What is FINCA eXpress Banki Pachala?

FINCA Express Banki Pachala is our agent network using Point of Sale devices to provide financial services to FINCA customers, ensuring you can access our services from where you are, at your convenience. At a FINCA Express Banki Pachala Agent, you can make deposits, withdrawals, obtain mini-statements, enquire your balance, and perform account to account transfers.

Can i trust the FINCA eXpress Banki Pachala service?

Yes, all transactions carried out at a FINCA eXpress Banki Pachala Agent are safe and secure since the Point of Sale terminal used requires biometric client identification before a transaction is processed and additionally, you receive a receipt for any transaction you make.

What do i have to do to perform a transaction at a FINCA eXpress Banki Pachala Agent?

It's simple: Enroll at your local branch to use the service where your biometric data will be captured and you will be able to transact at any FINCA eXpress Banki Pachala Agent.

How much does it cost to transact at a FINCA eXpress Banki Pachala Agent?

Almost all transactions at a FINCA eXpress Banki Pachala Agent are free. (Refer to the tariff poster displayed at the Agent location for details)

How will i know that the money has been deposited in my account?

You will receive a receipt for the transaction performed.

Are transactions at a FINCA eXpress Banki Pachala Agent possible when FINCA branches are closed for business?

Yes, that's the advantage of FINCA eXpress Banki Pachala service points, to serve our clients conveniently within their locations and even outside FINCA branch service hours.


 
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