Eligibility Criteria

Discover if you qualify for our deposit accounts and loan products with our comprehensive eligibility guidelines

Explore Criteria

Savings Account

Our flexible savings account with competitive interest rates

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Savings Account Eligibility

  • Must be at least 18 years of age
  • Valid government-issued ID (National ID, Passport, Driver's License)
  • Proof of address (utility bill, rent agreement) not older than 3 months
  • Minimum opening deposit of GHS 50
  • Recent passport-sized photograph
Open Account

Fixed Deposit

Maximize your returns with our fixed deposit investment options

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Fixed Deposit Eligibility

  • Must be at least 18 years of age
  • Valid government-issued ID (National ID, Passport, Driver's License)
  • Existing DCI Savings Account or willingness to open one
  • Minimum deposit amount of GHS 1,000
  • Commitment to fixed term period (3, 6, or 12 months)
Open Account

Diamond Account

Our premium account with exclusive benefits and personalized service

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Diamond Account Eligibility

  • Must be at least 18 years of age
  • Valid government-issued ID (National ID, Passport, Driver's License)
  • Proof of address (utility bill, rent agreement) not older than 3 months
  • Minimum opening deposit of GHS 5,000
  • Proof of income (pay slips, bank statements, or business documents)
Open Account

Detailed Deposit Account Requirements

Explore the specific requirements for each of our deposit products

Identification

You must provide a valid government-issued photo ID such as a National ID Card, Passport, or Driver's License. The ID must be current and not expired.

Note: International customers may provide international passports with valid visas.

Proof of Address

A recent utility bill (electricity, water, or gas), bank statement, or rental agreement dated within the last 3 months showing your current residential address.

Note: Digital copies are acceptable if they clearly show your name and address.

Initial Deposit

The minimum initial deposit varies by account type: GHS 50 for Savings Account, GHS 1,000 for Fixed Deposit, and GHS 5,000 for Diamond Account.

Note: Deposits can be made in cash, check, or electronic transfer.

Personal Information

You'll need to provide your full name, date of birth, contact information (phone and email), occupation, and Tax Identification Number (TIN) if available.

Note: Your information is protected under our strict privacy policy.

Multiple Applicants

All account holders must be present during account opening with their respective identification documents. Each person must meet the individual account requirements.

Note: Up to 4 individuals can be added to a joint account.

Operating Instructions

You must specify the operating mandate (either/or, both/all to sign) for transactions and account management. This determines how withdrawals and account changes are authorized.

Note: The mandate can be changed later with consent from all account holders.

Relationship Proof

For family joint accounts, proof of relationship may be required such as marriage certificate, birth certificates, or other legal documents establishing the relationship.

Note: Non-family joint accounts do not require relationship proof.

Higher Initial Deposit

Joint accounts typically require a higher minimum initial deposit: GHS 100 for Savings Account, GHS 2,000 for Fixed Deposit, and GHS 8,000 for Diamond Account.

Note: The higher deposit reflects the additional services provided for joint accounts.

Business Registration

Certificate of Incorporation or Business Registration Certificate, Company Regulations, and Tax Identification Number (TIN) for the business entity.

Note: Sole proprietorships may provide business registration certificates.

Director/Owner ID

Valid identification documents for all directors, partners, or business owners as listed in the business registration documents.

Note: At least two directors must provide identification for limited companies.

Business Documents

Board resolution authorizing account opening, business address verification, and operating mandate specifying signatories and their transaction limits.

Note: Additional documents may be required based on business type and size.

Business Deposit

Minimum initial deposit of GHS 500 for Business Savings, GHS 5,000 for Business Fixed Deposit, and GHS 10,000 for Business Diamond Account.

Note: Special rates may apply for larger deposits.

Minor's Information

Birth certificate or valid ID of the minor (if available), and a recent passport-sized photograph of the minor.

Note: The account is opened in the minor's name but operated by the guardian.

Guardian Requirements

Valid ID of the parent or legal guardian, proof of relationship to the minor (birth certificate, court order, etc.), and the guardian's proof of address.

Note: Legal guardians must provide court documentation proving guardianship.

Trust Declaration

A signed declaration stating that the account is held in trust for the minor until they reach the age of 18, at which point control transfers to them.

Note: This declaration is legally binding and cannot be altered without proper authorization.

Minor Account Deposit

Minimum initial deposit of GHS 20 for Minor Savings Account, with special interest rates to encourage saving habits from an early age.

Note: No monthly maintenance fees for minor accounts.

Contract Pre-financing Loan

Flexible financing for your contracts with competitive rates

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Contract Pre-financing Loan Eligibility

  • Registered business operating for at least 1 year
  • Valid business registration documents and licenses
  • Profitable business with positive cash flow
  • Business bank statements for the past 6 months
  • Collateral (may be required depending on loan amount)
  • Good credit history with no major defaults
Apply Now

Certificate/Invoice Discounting Loan

Fuel your business growth with our tailored financing solutions

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Certificate/Invoice Discounting Loan Eligibility

  • Registered business operating for at least 1 year
  • Valid business registration documents and licenses
  • Profitable business with positive cash flow
  • Business bank statements for the past 6 months
  • Collateral (may be required depending on loan amount)
  • Good credit history with no major defaults
Apply Now

Payroll (Quick-Pay) Loan

Specialized financing for employees under Controller & Accountant General

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Payroll Loan Eligibility

  • Must be more than 18 years of age
  • Proof of identity
  • Payslip from current employer
  • Affordable monthly repayment plan
  • Minimum 6 months employment history
Apply Now

Detailed Loan Requirements

Explore the specific requirements for each of our loan products

Personal Identification

Valid government-issued photo ID (National ID, Passport, Driver's License), proof of address (utility bill, rent agreement), and TIN (Tax Identification Number).

Note: All documents must be current and not expired.

Income Verification

Recent pay slips (last 3 months), employment letter, bank statements (last 6 months), or business financial statements for self-employed applicants.

Note: Freelancers may provide client contracts and payment receipts.

Business Documents

Business registration certificate, operating licenses, business plan, financial statements (2 years), and tax clearance certificate for business loans.

Note: Additional industry-specific licenses may be required.

Loan Application

Completed loan application form, purpose of loan statement, repayment plan, and signed terms and conditions document.

Note: Applications can be started online and completed at any branch.

Minimum Income

Business loans require demonstrated monthly revenue of at least GHS 5,000.

Note: Income requirements may be adjusted based on loan amount requested.

Income Stability

Employed applicants must have at least 6 months with current employer. Self-employed and business owners must show 1 year of stable business operations.

Note: Contract employees may need to provide contract duration details.

Debt-to-Income Ratio

Your total monthly debt payments (including the new loan) should not exceed 40% of your gross monthly income to ensure comfortable repayment ability.

Note: Lower ratios may qualify for better interest rates.

Additional Income

Supplementary income sources like rental income, investments, or part-time work can be considered with proper documentation to strengthen your application.

Note: Additional income must be regular and verifiable.

Credit Record

We review your credit history for responsible borrowing patterns. No major defaults or bankruptcies should appear in your credit report for the past 2 years.

Note: You can request your credit report before applying to verify its accuracy.

Repayment History

Evidence of timely repayment of previous loans, credit cards, and other financial obligations strengthens your application and may qualify you for better terms.

Note: Minor late payments may be acceptable with explanation.

Credit Challenges

If you have past credit issues, we may still consider your application with additional documentation, higher interest rates, or collateral requirements.

Note: Be transparent about past credit issues in your application.

No Credit History

First-time borrowers with no credit history may still qualify with additional documentation, a qualified co-signer, or by starting with a smaller loan amount.

Note: Building credit history with a small loan can help qualify for larger loans later.

Real Estate

Property with clear title deeds can be used as collateral. The property value should exceed the loan amount by 150%. Recent property valuation is required.

Note: Both residential and commercial properties are acceptable.

Vehicles

Vehicles less than 10 years old with proper registration documents can serve as collateral. Vehicle value should exceed loan amount by at 120%.

Note: Vehicle insurance with comprehensive coverage is required.

Fixed Deposits

Fixed deposits with DCI or other financial institutions can be used as collateral. Loan amount typically limited to 80-90% of the deposit value.

Note: This option often provides the most favorable interest rates.

Guarantors

A guarantor with strong credit history and stable income can serve as security for your loan. The guarantor must meet our eligibility criteria and sign legal documents.

Note: Guarantors are jointly responsible for loan repayment if you default.

Eligibility Calculator

Use our interactive calculator to check if you qualify for our financial products

Eligibility Results

Product
Personal Loan
Maximum Amount
GHS 20,000
Interest Rate
18%
Congratulations! You are eligible for this product. Apply now to get started.

Frequently Asked Questions

Find answers to common questions about our eligibility criteria

What if I don't meet all the eligibility criteria?

If you don't meet all criteria, we may still consider your application on a case-by-case basis. You might be offered alternative products, different terms, or asked to provide additional documentation or guarantors. We recommend speaking with our customer service team to explore your options.

Can I apply for multiple products simultaneously?

Yes, you can apply for multiple products simultaneously. However, each application will be evaluated independently based on its specific eligibility criteria. Keep in mind that applying for multiple loan products may affect your debt-to-income ratio assessment.

How long does the eligibility verification process take?

For deposit accounts, eligibility verification typically takes 1-2 business days. For loan products, the process usually takes 3-5 business days, depending on the complexity of your application and the time needed to verify all documentation. Business loans may take longer due to additional due diligence requirements.

Do eligibility criteria change over time?

Yes, eligibility criteria may change periodically based on regulatory requirements, economic conditions, and our internal policies. We recommend checking our website or contacting our customer service for the most up-to-date eligibility requirements before applying.

Can I improve my eligibility for better loan terms?

You can improve your eligibility for better loan terms by: maintaining a good credit history, increasing your income, reducing existing debt, providing stronger collateral, building a longer relationship with DCI through deposit accounts, and improving your employment stability.

Ready to Get Started?

Now that you understand our eligibility criteria, take the next step towards achieving your financial goals with DCI Microfinance.

Apply Now Contact Our Team