Bayport’s 2023 ESG Report: Advancing sustainable practices for a better tomorrow.

Products

Home Products

Bayport’s Product Suite

Our loans and other financial solutions aren’t just numbers; they’re the plans that our customers make and the potential they have to reach their goals.

Personal loans over different terms have always been the backbone of our business. In recent years we have added relevant new products like insurance, savings and transacting to the Bayport portfolio.

Having started out as a two-man operation 17 years ago, Bayport now serves its customers through hundreds of fixed and mobile branches in nine countries on three continents. On top of that, we employ thousands of Bayporteers and sales agents.

Along the way we have touched the lives of millions of customers and, we can proudly say, thousands upon thousands more of their family members, dependants, neighbours and communities. And that’s the real Bayport story.

Bayport’s products are structured into four product sets, namely credit, savings, transacting and insurance. Each product set is broadly outlined and we highlight key products inside that set. Note, however, that the different Bayport operations have their own products, tailored to respond to local market conditions and customer requirements.

My Loans

Our personal loans are for ordinary people who want to achieve extra-ordinary things.

This product set includes Bayport’s personal loan products, both retail and payroll. Payroll loans are collected through employers’ payrolls. It is the mainstay of Bayport’s credit business and is built on relationships with employers as much as individual customers. In many markets government employees are the bulk of Bayport’s payroll loan customers.

Retail loans are recovered through direct payments, preferably through debit orders. The different Bayport operations have designed innovative retail loans, such as the car title-backed loan in Ghana and NipeBoost loan facility in Tanzania. Certain operations also offer loans to informal traders and micro enterprises. All personal loans are secured with Credit Insurance. To this end Bayport has developed its own credit insurance product, which makes it competitive in its local markets.

My Savings

We give customers the option to save with a simple savings account or through a flexible fixed deposit.

Our fixed deposit accounts are unusually flexible. They allow you to choose for how long you want to invest your money and how you want to receive the interest – monthly, quarterly or at the end of your investment term.

Our savings and fixed deposit accounts carry no setup, monthly maintenance, service or transaction fees.

My Money

We make our customers’ money work for them with a transaction account that earns good interest and charges zero fees.

Our transactional account attracts no service or transaction charges, and gives customers access to competitive interest rates, mobile banking, e-wallets, payment kiosks and ATM services. There is no minimum opening or operating balance, no monthly account fee and you can earn good interest on your balance.

My Cover

Cover that does not break the bank and that gives you peace of mind knowing you and your family are covered.

Insurance is a relatively recent addition to the Bayport product set. Yet, it has already proven to be popular with customers across markets. Products include education protection plans, hospital cover and funeral cover. The South African funeral insurance product includes innovative value added features and living benefits that makes it competitive in the local market.

Bayport Management Ltd owns 51% of Traficc, a company specialising in insurance products and solutions. Traficc is our insurance team that manages all our insurance programs. To learn more about Traficc, go to www.traficc.co.za.