Bancassurance or Bancassurance loan is a partnership between UTB and insurance companies
Bancassurance or Bancassurance loan is a partnership between UTB and insurance companies which consists for UTB in financing, via loans which it grants to its customers, the use of mandatory and useful insurance policies (P&C, etc.) to improve social protection in Togo.
Tutoring for the payment of tuition fees of children, without any contribution from the borrower. This type of loan is implemented in the period from August to December of each year.
| PURPOSE | Children's education fees. |
| AMOUNT | Three (3) months' salary maximum. |
| REPAYMENT PERIOD | Ten (10) months maximum. |
| BORROWING CAPACITY | The borrower's total monthly repayment amount (loans and endorsements combined) must not exceed 60 % of their net income. |
| DEPOSIT | None. |
| GUARANTEES | No guarantees required except for death insurance for the borrower. |
| AVAILABILITY PERIOD | August to December every year. |
Purchase of semi-durable goods: furniture, electrical appliances...
| PURPOSE | Purchase of semi-durable goods: furniture, electrical appliances... |
| AMOUNT | Variable according to salary. |
| REPAYMENT PERIOD | Thirty-six (36) months maximum. |
| PROOF REQUIRED | None. |
| BORROWING CAPACITY |
33 % for an income of between FCFA 50.000 and 150.000. 40 % for an income of between FCFA 150.000 and 250.000. 40 % for an income of over FCFA 250.000. |
| DEPOSIT | None. |
| GUARANTEES | Death insurance; third party guarantee. |
Purchase of land for construction,without any contribution from the borrower
| PURPOSE | Purchase of land for construction. |
| AMOUNT | Variable according to salary. |
| REPAYMENT PERIOD | Forty-eight (48) months maximum. |
| PROOF REQUIRED |
Any document providing evidence of the transaction and its amount. |
| BORROWING CAPACITY | 33 % for an income of between FCFA 50.000 and 150.000. 40 % for an income of between FCFA 150.000 and 250.000. 40 % for an income of over FCFA 250.000. |
| DEPOSIT | None. |
| GUARANTEES | Death insurance; medical report for amounts greater than or equal to FCFA 5.000.000; mortgage promise under private seal. |
Purchase of material for home repair or improvement work.
| PURPOSE | Purchase of material for home repair or improvement work. |
| AMOUNT | Variable according to salary. |
| REPAYMENT PERIOD | 48 months to 60 months. |
| PROOF REQUIRED | Pro forma invoice, estimate. |
| BORROWING CAPACITY |
33 % for an income of between FCFA 50.000 and 150.000. |
| DEPOSIT | None. |
| GUARANTEES | Death insurance, medical report for amounts greater than or equal to FCFA 5.000.000; mortgage promise under private seal; binding mortgage agreement + fire and water damage insurance. |
Construction of first main home; purchase of land for construction.
| PURPOSE | Construction of first main home; purchase of land for construction. |
| AMOUNT | Variable according to salary. |
| REPAYMENT PERIOD | One hundred and twenty (120) months. |
| PROOF REQUIRED | Estimate, title deed, construction plan, architect's report, building permit. |
| BORROWING CAPACITY |
33 % for an income of between FCFA 50.000 and 150.000. |
| DEPOSIT | 5 % for a total of up to 5 million; 10 % for 5 million to 10 million; 15 % for over 10 million. |
| GUARANTEES | Death insurance, medical report for amounts of over FCFA 5.000.000, fire and water damage insurance, binding 1st mortgage agreement. |
Purchase of a new or used motor vehicle for personal use.
| PURPOSE | Purchase of a new or used motor vehicle for personal use. |
| AMOUNT | Variable according to salary. |
| REPAYMENT PERIOD | Thirty-six (36) months maximum. |
| PROOF REQUIRED | Pro forma invoice from dealership. |
| BORROWING CAPACITY |
33 % for an income of between FCFA 50.000 and 150.000. |
| DEPOSIT | None. |
| GUARANTEES | Death insurance; medical report for amounts greater than or equal to FCFA 5.000.000; mandatory civil liability, theft and fire insurance. |
An employee's guarantee can be replaced by:
