Does NDK give loans for study loans?
NDK gives loans to requests where a source of repayment can clearly be demonstrated and where the repayment period should not exceed 12 months.
We are unable to give loans to student who have gained admission into an educational institutions both in Ghana and abroad. Mostly because there is no source of repayment and also because there is no collateral or fall back security in the transaction.
Does NDK give mortgages/ loans for building houses?
NDK Financial Services is not a licensed mortgage company and does not give loans towards developing, purchase of land and the building of houses.
Such services are provided mostly by mortgage companies which are specialized financial institutions that provide medium to long -term repayment periods and other specific services.
We do however give loans for the completion of projects involving estate and property development. These loans have specific requirements and we suggest that interested individuals drop by our offices to discuss how we can partner in such ventures.
Do I need an account to access a Loan?
No. NDK is a non-deposit taking company- that is we do not operate current or checking accounts.
We therefore give loans to all individuals and businesses in Ghana once they can demonstrate to us that their transactions will be profitable.
What does it mean to Roll-over my investment?
Roll-over is used to refer to the situation where upon maturity, an investors principal amount is combined with the interest earned and renewed for another period of time at the prevailing interest rate.
At the end of each investment period (maturity), investors who wish to reinvest can either take their interest and re-invest the principal amount or they can allow the interest to be combined with the principal amount and then re-invested for another period at the prevailing rate.
What is the maximum period that NDK grants loans for?
NDK is a short-term financial institution thus it grants loans for up to 12 months. There are certainly exceptions, but the general policy, is to grant loans where the interest and the principal are paid back within a 12 month period.
What forms of Collateral/ Security do you accept?
We accept land in prime developed areas and landed property with proper documentation (Land title Certificate etc), We also accept warehoused goods and share certificates.
In few instances we accept Heavy Equipment and Machinery as well.
We generally do not accept cars but we assess each request on a case-by-case basis thus exceptions are made.
What services does NDK offer ?
NDK is a primarily a provider of short-term loans in Ghana.
We also have market-borrowings which is a form of investment. Individuals or organizations invest with us for specified periods of time and upon maturity earn high returns.
We also offer advisory services as part of value-added services to our loan clients.
Who can invest with NDK?
Our investors (those who lend to us through Market Borrowings) are organizations or individuals of high net-worth.
Currently we have about 50% of our investors being other financial institutions such as insurance companies, rural banks and fund managers. The other 20% being diverse institutions and associations such as provident funds, credit unions and even church project funds. Individuals make up the remaining 30% of investors.