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Employer Supported Loan

Employer-supported loan where your employer confirms employment and undertakes to support the facility by remitting salary to NBS Bank. Repayment terms up to 60 months.

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Loan Details

Interest Rate

Base Rate + Risk Margin

Maximum Term

60 Months

Income Ratio Limit

Maximum 50%

Security

Employer Letter

Cost to Access Facility

As per current tariffs

Processing Fee

2% (minimum applies)

CRB Fee

As applicable

Retrenchment Cover

0.2%

Life Cover

1.74%

Requirements to Access the Loan

Income to instalment ratio of not more than 50%
Letter of undertaking from the employer
Three recent payslips

Salary account maintained for 6 months or more
Proof of residence (water or electricity bill)
Valid National ID

How to Access

In-Branch
Internet Banking

Complaints Handling

Call Centre — 322
Walk-in Branch
Emails

Employer Supported Loan FAQs

Everything you need to know about NBS Bank's Employer Supported Loan, including eligibility, fees, repayment terms, and the application process.

The Employer Supported Loan is a credit facility for individual customers where an employer confirms that the applicant is an employee and undertakes to support the facility by remitting salaries to NBS Bank . This arrangement provides the bank with assurance of repayment, as the employer commits to channeling the employee's salary through NBS for the duration of the loan

Unlike unsecured digital loans, the Employer Supported Loan requires a Letter of Undertaking from your employer as the primary security . This letter serves as a formal commitment from your employer to remit your salary to NBS Bank, ensuring that loan repayments can be deducted directly from your earnings.

The Employer Supported Loan offers a maximum tenor of 60 months, which is 5 years, for repayment . This extended term provides flexibility for customers seeking larger loan amounts with manageable monthly installments.

The interest rate is calculated as the Base Rate plus a Risk-Based margin . A processing fee of 2% with a minimum charge applies, along with a Credit Reference Bureau (CRB) fee. Mandatory insurance covers include a Retrenchment Cover charge of 0.2% and a Life Cover charge of 1.74%

To apply for the Employer Supported Loan, your income-to-instalment ratio must not exceed 50 percent. You will need to provide a Letter of Undertaking from your employer, three recent payslips, proof of residence such as a water or electricity bill, and a valid National ID. Additionally, your salary account must have been maintained with NBS Bank for six months or more .

The Employer Supported Loan is distinct from the Kachangu digital loan range in several ways. While Kachangu Personal Loans are unsecured and available instantly online to customers whose employers have MOUs with the bank , the Employer Supported Loan requires a formal Letter of Undertaking and has a maximum term of 60 months compared to the shorter terms of some digital products. Unlike the Cash Covered Loan which is secured by your own deposit or fixed deposit account , this loan is secured by your employer's commitment to salary remittance, making it an accessible option for salaried employees who may not have substantial savings or property to pledge as collateral.