Ecobank Sierra Leone Loans – Get A Loan Today

By | June 17, 2021
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Ecobank Sierra Leone Loans

Ecobank Sierra Leone Loans: Whatever you need finance for, we offer a flexible range of loans to help you afford it.

Personal Loan

The freedom to borrow and pay back slowly

Personal Loan is an all-purpose loan, offering you flexible repayment plans and the option to access additional funds after repayment over time. So whatever you’re financing, it’s easy to lean on us.

  • Purpose of loan need not be disclosed
  • No tangible collateral required

Auto Loan / Asset Acquisition

Help to buy a vehicle or generator

Auto Loan or Asset Acquisition can help you make your dreams of purchasing a new vehicle or generator a reality, by offering you up to 90% of the cost of the asset.

  • Sold by approved Ecobank vendors
  • Convenient repayment plans

Advance Facility

Short-term help with cashflow

If you’re suddenly faced with unexpected financial needs, we can help. Advance Facility allows you to get fast access to up to 50% of your net monthly salary.

  • Renews every 30 days for up to a year
  • Charges only apply on utilised amount
  • Available to Ecobank customers of at least three months
  • Ecobank Advantage/Premier Account required

Mortgage Loan

Help towards buying or renovating a new home

Whether you’re buying a new home, or renovating or refinancing the home you live in now, Mortgage Loan is the ideal way to finance it.

  • Repay conveniently over up to 10 years
  • Available for completed buildings only

Travel Loan

Easily manage your vacation expenses

Travel Loan offers you a simpler way to manage your vacation expenses, and includes discounts on tickets prices and hotel accommodation.

  • Convenient repayment plans

Salary Advance

Help to get you to payday

Providing instant access to funds for emergencies, Salary Advance is a 30-day overdraft facility, offering employees of approved organisations access to up to 40% of their net monthly salary.

  • For short-term financial needs
  • Available to Ecobank customers of at least three months

Cash Backed Loan

Access funds without breaking into savings

If you have existing deposits or investments with Ecobank, Cash Backed Loan is a pre-approved, low interest loan that can help you access your cash without liquidating your savings.

  • Overdraft or term loan
  • Access up to 90% of funds

SEE ALSO:

Sierra Leone’s banking system is overseen by its central bank, the Bank of Sierra Leone and twelve commercial banks operate in the country.

All commercial banks are headquartered in Freetown. Accounts can be held in foreign and domestic currencies. While automatic teller machines are available in Freetown and other parts of the country, credit cards are not widely accepted. Transfers of over US$10,000 in value must be sent through the banking system with the objective of ensuring transparency.

Banks cannot lend in foreign currencies, which is a limitation on local business expansion. This can in turn impact the supply chains of large foreign-run businesses.

Currency can be freely converted in Sierra Leone, subject to availability. The Leone is not pegged to a foreign currency and has a floating exchange rate. The Leone has been subject to depreciation since mid-2014 due to declining inflows from the mining sector and, from mid-2015 onwards, a winding-down of Ebola-related donor inflows. Accordingly, the official US$/SLL exchange rate has moved from approximately Le 4,310 in August 2014 to approximately Le 8,600 in February 2019. Typically the US dollar trades in the unofficial, parallel currency market at a premium of 5-10% to the official exchange rate. The continued dollarization of the economy affects the exchange rate.

 

This is a list of commercial banks in Sierra Leone

 

 

Commercial banks

Sierra Leone Commercial Bank (SLCB)

Standard Chartered Bank (Sierra Leone)

Rokel Commercial Bank

Guaranty Trust Bank (Sierra Leone)

Union Trust Bank

First International Bank

FBN Bank Sierra Leone, formerly International Commercial Bank

Access Bank Sierra Leone

Ecobank Sierra Leone

Skye Bank Sierra Leone

United Bank for Africa (UBA) Sierra Leone Main Page

Zenith Bank Sierra Leone

Keystone Bank Sierra Leone

Bank of Sierra Leone

 

Community banks

Mattru Community Bank

Segbwema Community Bank

Yoni Community Bank

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