Frequently asked questions

Frequently asked questions

Izwe is a financial solutions company primarily offering personal loans to government and selected parastatal employees, secured lending products to individuals and SMEs, as well as fixed term investments, savings and transactional accounts for both businesses and individuals.

Izwe is a subsidiary of the Izwe Africa Group, an international financial solutions group that operates in Ghana, Kenya and Zambia. The group’s headquarters are located in Mauritius.

Izwe was incorporated in October 2010 and started serving customers in July 2011.

Izwe is a savings and loans company registered with and licensed by the Bank of Ghana (BOG). It is also regulated by the Securities Exchange Commission (SEC), the National Insurance Commission (NIC) and the Ghana Stock Exchange (GSE).

Izwe has branches in the following locations: Accra, Cape Coast, Ho, Koforidua, Kumasi, Takoradi, Tamale, Suame and Sunyani. To view our branch locator, click here

You can find your nearest branch by using the Branch Locator tool

You can go to any of our branches, SMS Izwe to +233 (0) 507 732 5666 for a call back, or contact us on +233 (0) 302 208 222 and we’ll call you back.

An employee number – for either government (CAGD), Ghana Police Service (GPS), Ghana Army, Ghana Revenue Service or Kwame Nkruma University of Science and Technology.

There are four ways in which you can apply for a loan with Izwe:

  1. Directly at one of our branches
  2. Through our vast sales agent network
  3. Through our helpful call centre agents. Call me back
  4. By applying online

Yes, you need to be a permanently employed government employee.

Izwe offers loans up to GHS40,000 with up to 72 months (6 years) to repay.

Once your loan has been approved, you can receive your money within 24 hours.

Your approved loan amount can be paid out in cash, via cheque, EFT, Mobile Money (limited to GHS10,000) or a combination of these. You can select the most convenient pay-out method suited to you.

All personal loan repayments are made via a salary deduction at your employer. The repayments are automatically deducted via your payroll office. Even if you have a payroll deduction you must make sure that your instalments are pain in full, and on time. You are responsible for all arrears that should arise.

Yes, rollovers are permitted. A new loan will be issued to the borrower, but a portion of the new loan will be used to settle the outstanding amount of the current loan, with the balance being paid out to the borrower.

We offer credit life insurance with our loan products which cover death, disability, medical incapacitation and retrenchment under certain terms and conditions.

The interest rates vary depending on a number of factors. All interest rates are reflected on our pre-printed payment schedule (a sales consultant or dedicated agent can assist you with this) and on the pre-agreement that we issue to you, as per the Bank of Ghana requirements.

As per our standard terms and conditions a client is entitled to settle a loan prior to the contract end date. If you would like to settle your loan early contact our call centre on +233 (0) 302 208 222 and we will generate a settlement quote for you. A settlement quote takes 7 days to prepare and is valid for 3 days.

As per the standard terms and conditions included in the Secured Loan Agreement, a borrower has a right to cancel their loan agreement within a certain period.

Yes you may pay your instalment or arrears at any of our branches but your fixed salary deduction will continue to run until your loan is settled in full.

You are welcome to visit at Izwe branch or contact us on +233 (0) 302 208 222 to enquire about the outstanding balance of your loan or savings account.

You can either Visit one of our branches directly or contact our call centre on
+233 (0) 302 208 222 to request an application form. On submission please attach the following:

  • Original car ownership documents
  • Proof of identification
  • A valid driver’s license
  • Two recent and original passport photos
  • Six months’ bank statements
  • Post-dated cheques for the loan term

Izwe offers up to GHS 100,000 with repayment terms of up to 18 months, while you keep driving your car.

On approval you will receive access to your loan within 24 hours.

While the vehicle provides as collateral for this loan, we also assess your financial situation – these two factors combined determine the amount you can be eligible for, up to 70% of the value of your vehicle.
Note: the vehicle must be 10 years old or less, from date of manufacture in order to qualify.

The loan amount is determined by our credit criteria, your affordability as well as the valuation amount on the vehicle.

You will be required to pay a maximum of GHS100.00 for the valuation process.

The interest rates vary depending on a number of factors. The interest rate be disclosed when a sales consultant provides you with the pre-agreement, as required by Bank of Ghana (BOG).

You have a contractual obligation to make equal, monthly instalments on the agreed payment date must be presented on or before the due date, without fail.

You are liable for a bounced cheque fee for every payment that bounces and Izwe will take the necessary procedures following non-payment.

Yes, you will be charged a penalty fee for unpaid instalments / arrears amounts.

Yes, you can pay off your loan earlier than expected but you must give 20 working day’s written notice to Izwe before doing so. Early settlement fees may be levied.

Since the vehicle is pledged as security for the loan, Izwe reserves the right, as a last resort, to auction the vehicle to recover the loan.

Complete the account opening form and supply the below documents to any of our branches, or to one of our sales consultants. On submission please attach the following:

  • A valid national identification document (we accept Voter’s ID, SSNIT, Biometrics ID card, Driver’s License or Passport)
  • A recent and original passport photo of yourself
  • Minimum deposit into your account of GHS 50
  • A sketch of your local residence, area map or valid proof of residence document

There are no charges on the Cash Saver account, even at time of withdrawal.

The interest rates we offer on Cash Saver are highly competitive and are published monthly.

You can make deposits from your place of work, electronically or at any of our Izwe branch tellers.

Every client of Izwe is eligible to open a Savings Plus Cheque Account which offers a cheque book for convenience.

iVest is a high yielding fixed term investment that offers you the maximum return on any amount invested up to 12 months.

The minimum investment amount is GHS 5,000

The interest rates we offer on iVest are highly competitive and are published monthly.

Complete the account opening form, which you can get from your nearest Izwe branch. Attach the below documents and your bank teller will open an account immediately, in which you can make a deposit either with cash or a cheque.

  • A valid national identification document (we accept Voter’s ID, SSNIT, Biometrics ID card, Driver’s License or Passport)
  • A recent and original passport photo of yourself
  • A minimum deposit into your account of GHS 5,000
  • A sketch of your local residence, area map or a valid proof of residence document

No, there are no charges on the investment except in cases of early withdrawal.

Izwe is regulated licensed as a Savings and Loans company by the Bank of Ghana (BOG).
Our financial results are published locally for all investors to make an informed decision.

You will receive your funds within 7 days of on the maturity date, unless other arrangements have been made.

Yes, early termination is permitted however charges may apply.

Yes, this is possible, please contact your closest branch or contact our call centre on +233 (0) 302 208 222 and we’ll call you back.