Our payroll loans aren’t just numbers; they’re the plans that customers make and the potential they have to reach their goals. Bayport offers short term loans for when our customers need a quick cash boost, medium term loans for a larger loan that gives more time to repay, and long term loans for maximum credit over a longer repayment period. We are committed to helping our customers make a difference to their lives every day through responsible access to credit.
Our customers use our range of loans for:
To build or improve their homes
To start or expand a small business
For agriculture or to buy land
For personal emergencies
At Bayport we believe in responsible credit; we therefore make sure that our customers understand the terms of repayment and encourage them to borrow for the right reasons.
The car title loan gives customers the opportunity to borrow with their cars as collateral. What sets this offer apart from similar loans in Ghana, is the fact that customers can keep driving their cars while they pay back the loan, and that it only attracts 5.5% interest per month.
Another useful feature of the car title-backed loan is that customers can use it to buy a vehicle. The customer puts up at least 55% of the purchase price and Bayport will finance the rest up to GHS 20,000.
A consolidation loan allows customers to take out a loan that covers the debt they have with other credit providers. Bayport settles the other debts on the customer’s behalf, leaving him or her with only a Bayport loan repayment.
In many cases, the consolidation means a lower monthly instalment and customers often save on interest as well.
The consolidation loan comes with a number of other benefits as well:
Depending on their financial situation, customers can qualify for a loan that is bigger than their consolidated debt amount. If they choose to take the bigger loan, they have extra cash to work with.
Customers can get a free My Money account into which Bayport will pay the extra cash if they choose to take out a loan that is bigger than the consolidated amount.
If customers open a My Money account and arrange for their salary to be paid into it, they could qualify for a bigger loan and better terms.
This savings product offers the most competitive interest rate on the market. The specified monthly contribution is deducted directly from payroll and deposited into a Bayport savings account. Customers have the flexibility and convenience of withdrawals and deposits at any given time.
The benefits of the Bayport Save As You Earn account:
Bayport offers a variety of products to the informal sector. Field deposit mobilisation officers (FDMOs) visit Bayport Micro’s customers every day to collect the money the traders want to deposit into their savings accounts.
Bayport offers a variety of products to the informal sector. Field deposit mobilisation officers (FDMOs) visit Bayport Micro’s customers every day to collect the money the traders want to deposit into their savings accounts. The officers use a point of sale (POS) device to record the transactions. A savings box is provided for those customers who wish to save every second day, or even weekly. In these cases, the collection officer visits the customers once or twice a week to empty the box and to formally deposit the contents.
Our group lending is designed to meet the needs of occasional traders, mostly women and members of existing trade-based associations, who live and work close to each other. Many of these women are involved in small business and petty trading, but most of their borrowing is for consumption purposes.
Groups that meet the minimum membership requirement, are accepted in the Bayport Micro training programme where they undergo six week of training on the product and, especially, on how to run their group. If the group stays together and works well during this period, it graduates from the training. After that, members become eligible for a series of loans that commence at a small amount and increase over a period of time, provided the loans are repaid successfully.
Bayport loans provide financial solutions for ordinary people who want to achieve extraordinary things. If you need a personal loan, a business loan or are investing in your future, Bayport offers a range of products to suit your needs.
Our unsecured loans offer the major advantage of not having to submit any collateral like vehicles or property.
Applying for a Bayport loan offers you the benefits of:
No post-dated cheques
Applying for a loan is easier than ever. All it takes is one visit to a Bayport branch to secure your loan. Simply visit your nearest branch or submit your details and one of our agents will contact you directly. If you are unable to reach the nearest Bayport branch, Bayport’s mobile network has a team of mobile agents who can come to you and help you apply for your loan.
At Bayport we believe in Responsible Credit and ensure that our customers understand the terms of repayment. With Bayport’s Credit Life, customers receive insurance cover should they become retrenched, disabled, pass away or contract a dread disease.