Better access to financial freedom
U Microfinance Bank is offering Running Finance facility exclusively designed for salaried individuals and small and medium businesses. With this facility, customers can meet their everyday working capital requirements and fund their short term business needs. Running finance is a revolving finance, where the customer is free to withdraw and repay amounts within the extent of the agreed upon limit, as many times the customer wishes to. This is the perfect financing solution for businesses with daily cash flows and quick turnovers, where they can avail financing for the amount and duration of their choice, at any point in time, without additional documentation requirements. The Running Finance facility comes with complimentary health insurance for customers, of up to PKR 50,000 for the 1st year.
Salient Features:
- Financing facility from PKR 50,000 up to PKR 3,000,000
- Financing tenure of up to 3 years
- Loan repayment options for monthly or quarterly installments
- Multiple assets options accepted as collateral on financing of PKR 600,000 and above
- Minimal markup rates
- Complimentary health insurance coverage of up to PKR 50,000 for the 1st year
- Credit life insurance available
Required Documents:
- Copy of the applicant’s CNIC
- Two passport-sized photographs
- Proof of income for salaried individuals (salary slips and bank statement)
- Proof of business for MSMEs (business card, utility bills, cash memo, bank statement, rent agreement of premises, etc.)
- Title documents of property or vehicle offered as collateral, where applicable
