Botswana - Apply for a Ipelegeng Personal Loan (Botswana Savings Bank)

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Procedure

Apply In Person

1. The application for an Ipelegeng Personal Loan with the Botswana Savings Bank shall be made through any of the Botswana Savings Bank (BSB) branch offices. BSB Contact Details
2. Applicants should visit the nearest Botswana Savings Bank (BSB) branch offices and confirm with a BBS Consultant, how much they qualified to apply.
3. Collect the following forms, the BSB Account Application Form, BSB Employment Confirmation Form, BSB Spousal Consent form, and BSB Stop Order Deduction Form, obtainable for free at any of the BSB branch offices customer care desk, or download it via the BSB website, BSB downloadable forms, or download them directly using these links
   • Account Application Form To be completed and signed by the Applicant.
   • Employment confirmation form To be completed, signed, and stamped by an authorised ed person at work.
   • BSB Stop Order Deduction Form To be completed and signed by the Applicant.
   • BSB Spousal Consent form To be completed and signed by the spouse (if married)
4. Fill out the application forms, keenly read the “Declaration and Acceptance” section of the form before making the declaration, as this is where the bank asks you to confirm that you read disclosure documentation describing fees, liabilities, and how the loan interest is calculated, etc. If need any assistance please do not hesitate to ask the customer care staff.
5. Submit the duly completed application forms in all respect, attached to the relevant supporting documentation as mentioned under the “Required Documents” section of this page to the nearest BSB branch office, consultant for processing.
6. Note: A transactional account is mandatory for loan processing.
7. Upon submission, the application is checked for completeness and correctness by the receiving officer, if everything is in order, the application is registered for processing and consideration by the department responsible.
8. After 2 working days, the loan will be approved and funds transferred into the customer transactional account, provided all the necessary documents are availed. The customer should then check in their account to withdraw the cash.

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Required Documents

• 2 Certified copy of National Identity card/ Omang (citizens), resident/work permit, passport (non-citizens)
• Certified Recent 6 Months Bank Statement which includes 6 salaries
• Recent Pay Slip – Original
• Confirmation of residence e.g. Police affidavit or BPC Bill stating plot number WUC or BPC Bill stating plot number.
• Two-month bank statement ( for those with Motheo, or 3 months for new clients)
• Certified Copy of Marriage Cert, ID of Spouse & Consent form. (if married)
• Loan Settlement Bal. & Loan Statements of loans to be clear.
• If on Contract, a letter stating when term starts & ends.
• Confirmation letter/form if employed less than 1 year 9.

NOTE:

• All copies must be certified via stamp & signature.
• For top-up bring 3 months bank statements.

Office Locations & Contacts

Botswana Savings Bank (BSB)

Gaborone Office
Headquarters
Physical: BSB Tshomarelo House, Corner Lekgarapa/Letswai Road Plot 53796 Broadhurst Mall, Gaborone,
Botswana
Postal: P. O. Box 1150 Gaborone, Botswana
Tel: +267 367 0000 / 367 0001
Fax: +267 395 2608
Email Address: [email protected]

Francistown Office
Main Branch
Physical: BSB Tshomarelo House, Corner Lekgarapa/Letswai Road Plot 53796 Broadhurst Mall, Gaborone, Botswana
Postal: P. O. Box 1150 Gaborone, Botswana
Tel: +267 242 1616
Fax: +267 242 1621
BSB Contact Details
BSB Branches Map Location
BSB website

Working Hours:

• Mon - Fri 8:00am - 5:00pm & Sat 8:00am - 12:00pm (Operations)
• Mon - Fri 8:15am - 3:45pm & Sat 8:15am - 11:15pm (Banking)
• Mon - Fri 8:30am - 3:30pm & Sat 8:30am - 11:00pm (Loans)
• Sunday & Public Holidays [Closed]
  
  

Eligibility

Applicants should meet the following criteria to be eligible:

• Account-holders for Special Savings and Thobo Savings/ Save-As-You-Earn (SAYE) accounts can use the balance in their accounts as collateral for Ipelegeng Loan. However, individuals with a reasonable balance in their Ordinary Savings accounts are also considered.
• The balance in Save-As-You-Earn, Thobo, or Sesigo Savings Account should constitute 60% of the loan amount.
• The minimum loan amount is P1, 000.00 and the maximum is P100, 000.00.
• Must have a transactional account with the BSB.

Fees

BSB Tariff Guide 2020

Validity

• The loan is repayable over 48 months and it attracts a Loan interest rate, which is at prime plus 5%.
  
  

Documents to Use

Account Application Form
BSB Stop Order Deduction Form To be completed and signed by the Applicant.
BSB Spousal Consent form To be completed and signed by the spouse (if married)
Employment confirmation form To be completed, signed, and stamped by an authorized person at work.
BBS Loan Checklist

Sample Documents

Please attach sample completed documents that would help other people.

Processing Time

• The loan processing time is in 2 working days provided all documentation is provided.
  
  

Related Videos

Videos explaining the procedure or to fill the applications. 
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Instructions

Please provide other instructions related to the certificate/documents.
e.g. The state office holds birth records since january 1908.

Required Information

• Full name of the applicant
• Date of birth/Gender
• Nationality
• Country of origin
• Contact details.
• employment details
• spouse details
• Type of loan applying for.
• Purpose of Loan
• Insurance (Credit Life)
• Requested Loan Amount Incl. of Insurance & Fees
• Repayment Period (Months)
• Transactional account No.
• Declaration by the Applicant/Spouse/Employee
  
  

Need for the Document

• The Ipelegeng Personal Loan is a loan scheme that is specifically designed for Save-As-You-Earn, Thobo, or Sesigo Savings Account holders. The purpose of the loan is to meet personal needs such as school fees, purchase of furniture, and refurbishment of buildings to mention just a few. The customer deposits act as security for Ipelegeng.
  
  

Information which might help

Enter other informations which might help. 

Other uses of the Document/Certificate

Please explain what are other uses of obtaining this document/certificate.
e.g. Birth Certificate can be used as proof of identity. 

External Links

BSB Ipelegeng Personal Loan
BSB Products Brochure

Others

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