Top-up Financing (Top-Up)
Name and purpose of the product:
All SKM Islamic financing for repeat customers with a good repayment history (maximum three payments overdue) will be eligible for topping-up. Topping-up financing will be lighter and shorter, requiring only reconfirmation of business existence, guarantors’ commitment, and property documents by the Branch Supervisor/Internal Control. Processing will be centralized through the Centralized Financing Unit (CFU) to encourage timely repayment and reduce costs for both SKM and eligible applicants.
Gender
Male and Female
Location
Rural and Urban
Purpose
All SKM Islamic financing for repeat customers with a good repayment history (maximum
three payments overdue) will be eligible for topping-up. Topping-up financing will be lighter
and shorter, requiring only reconfirmation of business existence, guarantors’ commitment,
and property documents by the Branch Supervisor/Internal Control. Processing will be
centralized through the Centralized Financing Unit (CFU) to encourage timely repayment and
reduce costs for both SKM and eligible applicants.
Target Businesses
All types of customers with RIGA (Regular-Income-Generating-Activities) and SIGA
(Seasonal-Income-Generating-Activities)
Documents Required
Review the existing documents to ensure they are updated
Age
18-65
Members
1 Person
Financing Currency
AFN
Financing Amount
5,000 to 1,500,000
Financing term
6 to 12 months
Service Charge/Profit
1.25% Flat/Month
Collateral (Title Deed and Guarantor)
Review the financial guarantors, Title deed that they are valued and updated