You should not worry about how to get Sika Master Loans. It provides the financial backup for its customers who need cash flow. Getting a loan used to be difficult, but this is no longer the case because of technological advancement. Besides that, there are more loan offerings from governmental and non-governmental organizations.
Read through this article to learn more about Sika Master Loans, requirements, how to apply and so on.
About Sika Master Loans
Just like every other financial institution, Sika Master Loans lends loans to its clients. It’s a subsidiary of The DECANS Group Limited. They registered this group in Wales and England. Besides that, they have two major headquarters in the world; one in Ghana and the other in the United Kingdom.
It has sister loan companies in: Rent Now Pay Later, DCANS Healthcare Ghana, Kaiser Pharma Ghana, Glostar Motors and so on.
How can I apply for Sika Master Loans?
It’s easy to apply for sika Master Loans. Just follow the simple steps below to apply for your Sika Master Loans:
- Visit their website.
- If you’re a new client, follow through the forms to generate your login details. However, if you’re an existing customer, then login with your details to continue your application.
- After generating your details, you can now proceed with your loan application.
- Request for your loan on the website. They’ll send you your money once your online application is successful.
Types of Loans Sika Master Loans offer
They offer three (3) major loan types to their clients, including:
1. Personal loans
Sika Master Loans personal loans allow customers to receive up to 25 times of their monthly income. However, it’ll take a 60-month period (5years) for their clients to repay the loan.
Besides that, the interest rate for this loan type is up to 20% per annum. Moreover, they’ll deduct a processing fee from the loan they approved for disbursement to the client.
Last, either private or private salaried workers can access this loan.
Note: You can access about GH₵2,000 to GH₵100,000 from this loan type
2. Salary Advance
Clients can receive about 100% of their monthly income or net with this type of loan. Repaying the loan will take about 30 days or the next payday of Sika Master Loans clients. This loan type has an interest rate of up to 10%, and this is strictly for new clients of Sika Master Loans. However, the interest rate is 0% for qualified existing clients of Sika Master Loans.
Furthermore, they will deduct a processing fee of 10% from the loan they have approved for its disbursement to their client.
Last, the only eligible people to access this loan type are private or public salaried workers.
Note: You can receive about GH₵200 to GH₵2,000 from this loan type.
3. Loyal Repeat Customer Loans
With this loan type, existing clients, or vendors can receive up to GH₵2,000. Also, it will take 3 months for their clients of vendor partners to repay their loans. Besides that, this loan type has an interest rate of up to 7% per month.
They will deduct a processing fee of 5% from the loan they have approved to be disbursed to the client.
Last, the eligible people to access this loan type are existing clients of Sika Master Loans (Reiny’s Ghana, PC24 Store Ghana, and so on)
Note: You should know that they don’t offer business loans anymore. However, GHStartups.com, a subsidiary of the DCANS Group Limited, does that.
What are the requirements of Sika Master Loans?
Just like every other loan from financial institutions, there are some requirements you need to meet. The following loan requirements include:
- Valid photo ID the government issued you.
- Valid phone number and email address.
- Have a salary bank account, especially a current account.
- Tax identity number.
- You must be an employee with a minimum of two (2) years post qualification employment.
- Your SSNIT card number.
- They may or may not require you to provide collateral depending on the loan type.
Conclusion
They designed the loan types of Sika Master Loans to suit different purposes and needs of clients. Moreover, it wouldn’t be totally necessary to over rely on loans from financial institutions. This is because there are other sources of financial backups, like credit unions in Ghana. However, repayment of loans conformably is important so that credit bureaus in Ghana won’t blacklist you.
Other related posts:
How to get a loan from CalBank
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