Secured loans typically have lower interest rates because the loan is less of a risk for us due to the collateral required.
Secured loans might be a good choice if you have personal assets such as equity in your home or any other assets that can be used as collateral. Keep in mind, with a secured loan, the lender can take possession of the collateral if you don't repay the loan as agreed - If the borrower defaults, the we can convert the assets to cash to be repaid
• Collateral required
• Lower interest rates
• Larger Loan amounts: Up to GHS 50m
• Better lending terms
• All our secured loans are recourse
• Collateral must be registered with BoG's Collateral Registry system. Websites used as collateral are excluded from this requirement.
• Proof of identity of Individual, or Shareholders (if business)
• Proof of address of Individual, or Shareholders (if business)
• Budget for loan amount requested
• Repayment Plan
Types of Secured Loans
All loans not listed in our Unsecured Loans category are considered secured loans and recourse.