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    Who is eligible to apply for a loan?

    As long as you are on Controller and Accountant General’s Departments or other government or private organisations that have partnered with Bayport, you are eligible to apply for a loan with us.

    What do I need to get a loan?

    It’s simple; all you need is a recent pay slip, any of your national ID’s, a bank statement that shows your income, and two (2) passport sized photographs.

    Bayport interest rates appear too high.
    • Our target to disburse within thirty (30) minutes of application entails the commitment of resources to put together the necessary infrastructure for speedy delivery.
    • As a non-deposit taking institution that borrows from the banking system and other investors to on-lend to our clientele, our charges have to reflect our cost of borrowing.
    • Delays in effecting deduction at the employer’s end tend to extend the period of borrowing by up to three (3) months, however, we do not adjust the interest rate charged to the customer to reflect the extra period. This tends to reduce the effective cost of borrowing for the customers.
    • We waive the requirement for the customer to provide collateral security in respect of loans issued, which is a precondition to borrow from our competitors, especially money lenders.
    • Our interest rates are fixed for the entire duration of the loan, whereas, banks normally operate a variable interest rate. This provides a saving for our customer during periods of increasing interest rates.
    • Customers who are unable to meet their loans payment schedule due to terminal ailment or death, do not have their families tasked to pay, compared to other money lenders.
    There is a high incidence of over deduction.
    • Over deduction is a source of worry for Bayport Financial Service because it affects our operation adversely as much as it affects our customers. However, the problem is not exclusive to Bayport Savings and Loans. It affects all our competitors.
    • Where an over deduction occurs, Bayport Savings and Loans endeavors to effect the refund as quickly as possible as long as the customer is not in arrears. However, the restatement of the outstanding loan balance to reflect the refund becomes difficult and tends to delay completion of repayment by the customer. Bayport Savings and Loans is therefore working with its various employer partners to address the problem permanently.
    • In a situation where an over deduction has occurred, we recommend that where the customer can afford to, they allow the over deduction to go to offset their loan balance. This will mean early completion of repayment, thus the customer becomes eligible for a new loan earlier than would have been the case.
    • In line with our objective of mitigating customer inconvenience where over deductions occur, Bayport Savings and Loans pays out refunds in respect of over deductions to our customers even before the amount deducted is released by the employer to us.
    • In order to further reduce the inconvenience created by over deductions,our Customer Service Department is on standby to deal with all customer complaints and queries.
    Do I need collateral to get a Bayport loan?

    You do not need any collateral for your loan. It’s unsecured.

    What can I use my loan for?

    We encourage our customers to borrow for the right reasons but you can use your loan for education fees and other income generating ventures.

    I am not a civil servant nor is the company I work for approved by Bayport, how do I get a loan?

    At the moment you would not  get a loan. However, if your organisation has more than 100 employees, Bayport can enter an agreement with your employer to enable you and your colleagues to borrow from us.

    How much of loan can I get?

    Currently, you can borrow any amount up to GHC 15,000 as long as you meet our affordability criteria.

    Is my salary enough to get a loan?

    Any salary is enough for a loan as long as you pass our affordability criteria.

    Which is your cheapest loan product?

    The 60 month product is the cheapest product as you can spread your loan payments over 5 years. However, we offer 1, 3, 6, 12, 24 and 36 month loan products as well for shorter loan payments.

    Can I pay my loan early if I want?

    It is possible to pay your loan off early. Please call our Customer Service Department on 0302-770991 or our toll free on 0800-10016 (Vodafone only) for further details.

    How long does it take for the loan to be disbursed?

    You can get your loan instantly after the loan processing procedure at the branch or larger amounts are paid into your bank account within 24 hours.

    I’ve heard there are delays in payment of loans into an account.

    Delays in loan payments are usually due to documentation issues or provision of incomplete information.

    Can my Bayport loan be used to pay off my other loans/debts?

    Yes, for loan consolidation purposes, please call our Customer Service Department on 0302-770991 or our toll free number on 0800-10016 (Vodafone only).

    Can I increase a current loan amount?

    Yes, you can replace your current loan with a higher amount or take a second loan.

    If my monthly deductions are more than what was agreed, what should I do?

    It is uncommon for this to happen, but if it does, please inform your nearest Bayport branch immediately so as to fix the error.

    How do I make a complaint?

    Naturally, we pride ourselves on the quality of our service, and the products we offer. However, should you feel you need to make a complaint, please visit your nearest Bayport branch for assistance. Alternatively, you can contact our Customer Service Department on 0302-770991 or on our toll free number on 0800-10016 (Vodafone only) 



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Ghana Corporate Video

Branch Locator

The future is built on education

Thirteen young Ghanaians can look forward to the new academic year without worrying about how their school fees will be paid, thanks to Bayport Ghana’s bursary scheme.

The 2014/15 academic year is the seventh year that Bayport Ghana awards scholarships to outstanding but needy students. The benefi ciaries are selected based on their performance in the Basic Education Certificate Examination (BECE), which students write at the end of their junior high school education. Bayport Ghana works with the Ghana National Association of Teachers (GNAT) to select the bursars.
The scholarship covers all the students’ expenses, including school fees, books, welfare and PTA dues. Accommodation is also covered for those in tertiary institutions. “A student or ward of teachers, who performs well can receive a scholarship for their full seven to eight years of senior high school and tertiary education,” says Kofi Adu-Mensah, Managing Director of Bayport Ghana. “With this amazing package, Bayport genuinely supports the wards of our teacher customers.”

Ghana is divided into 10 regions and in the past Bayport selected one scholarship beneficiary per region. During the fi fth year of the scheme, the then GNAT general secretary asked Bayport Ghana to consider increasing the number of beneficiaries to two per region. “We indicated our willingness to do so but on a gradual basis,” says Kofi . The result of this decision is that in addition to the 10 long-term scholarships, Bayport Ghana now also awards three one-off bursaries, to the value of one thousand Ghana cedis, to three talented students.

Among the 60 students already studying with Bayport Ghana scholarships, Adolph Edem Awutey stands out as a remarkable success story. Adolph is in his final year at the University of Ghana reading economics and statistics. Coming from a poor community in the Volta Region, Adolph did so well in his BECE exams that he gained admission into Achimota School, one of the top senior high schools in Ghana. Two years ago, Bayport management gave Adolph a Samsung Notebook to assist him in his studies and in 2013 he did an internship at the Kokomlemle Branch. In addition to his university studies, Adolph is currently doing a professional course in management accounting, also with Bayport Ghana’s assistance. He aspires to be an economist when he completes his education.

Like Adolph, most of the Bayport Ghana scholarship bursary benefi ciaries at various universities apply to undertake their internship or National Service with Bayport Ghana.

“The scholarship scheme is Bayport Ghana’s investment in our country’s future,” says Kofi . “The scheme is aimed at encouraging brilliant students in deprived areas to get a quality education and we are pleased with the results we see.”

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