Opportunity International Savings and Loans Limited is a top-ranking Microfinance Institution in Ghana. It is affiliated with Opportunity International, a nonprofit organization registered in the United States of America that provides opportunities like micro banking, small business loans, and entrepreneurial education to millions of persons across the developing world who lack access to the capital required to grow their business, increase their earnings and improve their lives.
OISL was granted its operating license by the Bank of Ghana In June of 2004 though operations commenced full-time in September of the same year.
Opportunity International Savings and Loans services
Opportunity International Savings and Loans Limited offers a wide range of financial services such as loans, savings accounts, entrepreneurial training, and other innovative programs to persons living in poverty in order to empower them in transforming their lives, securing their children’s future, and developing their communities.
Bank account services
Bank Accounts have proved vital for gauging the inflow and outflow of income, building financial independence, and making plans for the future.
However, formal Bank accounts have long been out of reach for many families and individuals either due to their lack of awareness that they are supposed to save for the future, low income, or the high minimum deposits and heavy account terms imposed by the Banks. Some that do manage to save money usually go for unsatisfactory alternatives such as patronising local savings collectors or worse, hiding them at home where they are vulnerable to theft.
In a bid to help individuals and families easily secure their money, build a safety net, and plan for the future, OISL developed a variety of small-scale savings products that depend on affordable minimum deposits, attractive interest rates, and flexible account terms. The Account Services are as follows:
Savings Accounts
This is an interest-bearing account for you to easily deposit and withdraw funds at any time without notice all while earning competitive interest on your savings. At GH¢ 10.00, the minimum opening amount is both cheap and affordable to many low-income earners.
Current Accounts
This is a demand deposit account where you can deposit and withdraw funds at any time without notice. The GH¢ 50.00 minimum opening amount is higher than the savings account but you are provided with a personalized cheque book to go with the account.
Fixed Deposit Accounts
This service provides you with a fixed interest-bearing account for a prescribed period of time. The interest rates are competitive but you require notice to withdraw funds.
Susu Savings
Susu Savings offers customers who do not have time to come to the bank a chance to own a savings account where they can make daily Contributions. This kind of account also includes flexible withdrawal options and the opportunity to access our loan products.
Loan services
Providing opportunities for enterprising individuals and groups to access low-interest loans is another way to create sustainable development in communities. Some of the loan packages provided by OISL include:
Agric Micro and SME Loans
This is an agriculture finance that provides entrepreneurs with micro, small, and medium-scale capital for investment in the agricultural sector.
SME Loans
SME loans provide Small and Medium Scale entrepreneurs who might not have been able to start a business on their own with working capital to enable them to start and grow their business.
As clients invest their loans into their businesses, they are able to improve their means of livelihood by building bigger and better infrastructure, updating old machinery, buying more supplies in bulk, etc all of which increases their capacity and in turn help them expand their operations, create additional jobs, and employ more people while also providing for their families and breaking the cycle of poverty.
The SME loan package makes a minimum loan amount of GHc 10,000.00 available to entrepreneurs to be repaid within a maximum period of 36 months.
School Fees Loans
This package is available for the school fees payment of the wards of existing clients. For first-cycle clients, a guarantor is required if the loan is above 1000. Second-cycle clients would also require a guarantor if the loan is above 2000. However, clients in the 5th cycle and above do not need guarantor(s) if the amount does not exceed GH¢1000.00
School Improvement Loans
This package provides short and medium-term finance for private schools with a 36-month maximum repayment window.
Group Loans
Loans for groups of micro-entrepreneurs to expand their business. It requires no collateral while providing access to free training in financial literacy, leadership community development, etc. However, a group guarantee is required.
Adehye Group Loans
Loans for loyal group loan clients in the 4th cycle and beyond who want to maintain their group.
Adehye Individual Loans
This package is available for loyal group loan clients migrating to individual loans.
Susu Loan
This package is open to susu deposit clients only after a required period of contribution.
Church Loans
This package serves to assist in church development by providing short and medium-term loans to churches with a maximum repayment period of 36 months
Ahoto Housing Loans
This loan makes affordable housing available for small and medium-scale entrepreneurs, farmers, and salaried workers by providing them access to low-interest loans which are of two main types:
- Home Improvement Loans
- Building In Stages Loans.
Salary Loans
Short-term and medium-term finance available to salaried workers to be repaid within 36 months.
Empowerment Loan
OISL makes loans available at a concessionary rate for the disabled in order for them to improve their livelihood and enjoy a better quality of life.
Entrepreneurial Training
Opportunity International Savings and Loans Limited also provides training to clients, many of whom are accessing financial services for the first time.
Contact Opportunity International Savings and Loans
You can contact Opportunity International Savings and Loans Limited via
ADDRESS: No. D765/3 Kwame Nkrumah Avenue P. O. Box JT 323 Accra
Phone: +233 302 675219
Website: https://www.opportunityghana.com
Conclusion
Opportunity International Savings and Loans Limited is a leading Ghanaian Microfinance Institution that provides financial services and entrepreneurial training to lift individuals out of poverty. OISL offers accessible and affordable savings and current accounts, alongside loan services like agriculture, SME, school fees, and housing loans, fostering sustainable community development. Their commitment to clients’ financial well-being and their diverse offerings make them a vital resource for entrepreneurs and individuals.