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Abossey Okai
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0302 201817/0302 201863

Personal Loan

Innovative Microfinance > Personal Loan


The need to get funds to sort out some personal need is not an easy task as one will be required to provide so much and after that wait for so long for the facility to be granted, sometimes after going through the struggle of the cumbersome process the facility maybe rejection. It is in this light that Innovative Microfinance Limited intends to provide assistance with little or no worries. This product targets both customers and non-customers who may be professional or otherwise who have the need for a facility. This may include but not limited to Professionals, Business Owners, Market Women, Tabletop Sellers, etc.


  • Applicant must be in employment or engaged in a sustainable income-generating activity. 
  • Salaried workers should have completed probation and confirmed permanent staff and submit an introductory letter from their employer as well their last three (3) month’s pay-slip
  • Self-employee should provide valid documentary evidence of their business which have been in operations for at least 12 months
  • Last Six (6) months  bank statement
  • Post-dated cheques for all the installment covering the whole amounts
  • A minimum of two guarantors should provide a post-dated cheque covering the whole amount
  • Residence and workplaces of both applicant and guarantors to be visited and confirmed by Credit Officer and his/her team members
  • Loan Amount ranges from GH¢ 1,000 – GH¢10,000
  • Loan Duration:      3 – 9 months
  • Loan Repayment Frequency: weekly / bi-weekly/monthly
  • Grace Period: Depends on loan repayment frequency
  • Interest rate: 5% monthly
  • Lien: 25%
  • Processing fees: 3.5%
  • Application form: GH¢ 5.00
  • LPF: 2%
  • Loan default penalty – 0.25% daily


  • Access to financial assistance within a short period
  • Access to a revolving facility.


  • 3 passport pictures of a new applicant (for account opening forms, loan forms, and passbook).
  • Valid National ID card
  • 3 months’ current payslips where applicable
  • 6 months’ Official bank statement
  • 2 Guarantors