FAQs

FAQs2018-12-06T19:11:51+02:00

Loans

What loan products do you offer?2019-03-19T13:09:17+02:00

Our loan products, both individual and group, include Business Loans, Small Enterprise Loans and Village Banking Loans.

How long does it take to get a loan from FINCA?2019-03-19T13:10:19+02:00

You will receive a decision from us within two days of submitting the required documentation.

How much do I have to pay back each month?2019-03-19T13:11:22+02:00

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

How often am I required to make payments?2019-03-19T13:12:23+02:00

You will agree on an appropriate monthly repayment schedule to suit your needs when you access the loan.

What is the maximum amount I can borrow from FINCA?2019-03-19T13:13:00+02:00

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

What collateral is required to get a loan?2019-03-19T13:14:18+02:00

Depending on the loan type and loan amount, the collateral can range from household items to assets such as your home or automobile.

Savings

What are the requirements for opening a Phindu Savings Account?2019-03-19T13:16:03+02:00

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. Note: passport photographs can be taken at a FINCA Malawi branch for free.

What are the benefits of saving with FINCA?2019-03-19T13:17:37+02:00

Keep your savings safe and secure while earning a competitive interest rate and enjoying unlimited access to it, without accruing either monthly account maintenance charges or transaction charges.

What is the minimum account balance for a Phindu Savings Account?2019-03-19T13:18:45+02:00

Being a deposit-taking microfinance bank that promotes financial inclusion, FINCA designed its Mphindu Savings Account with no minimum account balance so that everyone can embrace savings culture in Malawi.

Who is eligible for a FINCA Fixed Deposit Account?2019-03-19T13:19:50+02:00

Any individual, institution or company that wishes to save and grow their money in an easy and risk-free way while accruing competitive interest rates within a specific period of time.

What are the benefits to having a Fixed Deposit Account with FINCA?2019-03-19T13:21:31+02:00

Being a FINCA Fixed Deposit Account holder comes with a range of benefits that includes the option to have upfront interest payments accrued during an agreed period and to use your accrued interest as collateral to obtain a loan.

FINCA eXpress Banki Pachala

What is FINCA eXpress Banki Pachala?2019-03-19T13:37:18+02:00

FINCA eXpress Banki Pachala is our agency banking network. Agents use point-of-sale devices to provide financial services to FINCA customers, ensuring you can access our services near where you live and work. At a FINCA eXpress Banki Pachala agent you can make deposits, withdrawals, obtain mini statements and make account-to-account transfers.

Can i trust the FINCA eXpress Banki Pachala service?2019-03-19T13:38:14+02:00

Yes, all transactions carried out at a FINCA eXpress Banki Pachala agent are safe and secure. The point-of-sale terminal used requires biometric client identification before any transaction can be processed. Additionally, you will receive a receipt for any transaction you make.

How can I perform a transaction at a FINCA eXpress Banki Pachala Agent?2019-03-19T13:39:22+02:00

It’s simple: enroll at your local branch where your biometric data will be captured. Afterwards, 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?2019-03-19T13:40:09+02:00

Almost all transactions carried out at a FINCA eXpress Banki Pachala agent are free of charge. (Refer to the tariff poster displayed at the agent location for details).

How will i know the money has been deposited into my account?2019-03-19T13:40:52+02:00

You will receive a receipt confirming the transaction has been made.

Can I visit a FINCA eXpress Banki Pachala agent when FINCA branches are closed for business?2019-03-19T13:43:25+02:00

Yes, that’s the advantage of using FINCA eXpress Banki Pachala. Our agents are happy to serve you near where you live and work, even outside FINCA branch service hours.