Limit. Max 90% of the cost of air ticket and Visa fee within our single borrower exposure limit.

Tenor. Max 12 Months.

Repayment. Monthly installments.

Primary Security.

• Post dated cheques from Recruitment Agency.
• Personal Guarantee by the Director/s of the Company.

Collateral security. Charge on personal assets of the borrower/parents.

Documents Required:

• National ID/ Passport of the worker.
• Copy of Visa/Work Permit.
• 2 Recent Passport size photographs of worker going abroad.
• Copy of offer letter for going abroad.
• Board Resolution from the Corporate Client for opening deposit/loan account/s with us and Power of Attorney granted to its managers, officers and/or employees to transact on the account.
• KYC Documents and photographs of the Directors/signatories. Work Permit/s if Foreigners.
• Certified copies of Certificate of incorporation, Memorandum & Articles of Association, Form 20, Form 7, Form 18 (for address of the company).
• Demand Promissory Note.
• Loan Agreement.
• Personal Guarantee executed by Director/s and parent/s of the borrower.

Processing fee.

1% of the loan amount.

Late payment.

A penalty of 1% of defaulted amount per month or its part.

Insurance.

2% Life Insurance of Borrower is desirable.

Administrative charges. 1% of the loan amount.