Chad

School loans

Customers can take out school loans to cover the cost of their children's school fees and stationery.

Term: 9 months

Interest rate: 10% 

Suitable for: customers working in the public or private sectors or who are employees of multinational companies.

To be eligible, applicants must:

  • have had their salary paid into an Orabank account for more than three months;
  • provide a declaration confirming that they agree to have their salary paid into this account on an ongoing basis.

Insurance

  • Applicants must take out payment protection insurance covering the loan amount before the loan can be arranged.

Consumer credit 

Consumer credit is short-term credit designed to help customers purchase consumer goods.

Term: from 3 months up to 2 years

Interest rate: 14% on average

Suitable for: customers working in the public or private sectors or who are employees of multinational companies.

To be eligible, applicants must:

  •  have had their salary paid into an Orabank account for more than three months;
  • provide their employment contract;
  • provide their three most recent payslips;
  •  provide a declaration confirming that they agree to have their salary paid into this account on an ongoing basis.

Insurance

  • Applicants must take out payment protection insurance covering the loan amount before the loan can be arranged.  

Personal loan

Personal loans provide medium-term credit with a repayment period of no more than five (5) years. They are designed to help customers purchase larger goods, such as a car or household furniture.

Term: between 3 and 5 years

Interest rate: 14% on average  

Suitable for: customers working in the public or private sectors or who are employees of multinational companies.

To be eligible, applicants must:

  • have had their salary paid into an Orabank account for more than three months;
  • provide their employment contract;
  • provide their three most recent payslips;
  • provide a declaration confirming that they agree to have their salary paid into this account on an ongoing basis.

Insurance

  • Applicants must take out payment protection insurance covering the loan amount before the loan can be arranged.
  •  The loan must be secured against the item financed.

Mortgages

Mortgages provide long-term credit to help customers purchase their main home.

Term: between 5 and 10 years

Interest rate: 9% on average

Suitable for: customers working in the public or private sectors or who are employees of multinational companies.

To be eligible, applicants must:

  •  have had their salary paid into an Orabank account for more than three months;
  • provide their employment contract;
  • provide their three most recent payslips;
  • provide a declaration confirming that they agree to have their salary paid into this account on an ongoing basis.

Insurance

  • Applicants must take out payment protection insurance covering the loan amount before the loan can be arranged.
  • Customers must register the mortgage they have taken out on the property.

 The customer, their employer and the bank must sign an agreement making it easier to put loans in place under preferential conditions. 

Helping personal banking customers manage their cash flow

  • Overdrafts can be arranged on an account for a one-month period.
  • Customers can request an advance on their salary for a one-month period.
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