Loan Application

The Bank of Ghana (BoG) has announced to the general public some key issues with regard to loan acquisition and repayment responsibilities and obligations of customers of banks and specialized deposit-taking institutions. The Bank said there was a need for persons to critically assess their loan repayment capabilities prior to obtaining a loan facility. “Borrowers are advised not to rush to acquire loans. Where possible, they may obtain and compare offers from multiple lenders before deciding on the best deal. “Prior to the signing of a Loan Agreement, lenders are required to give potential borrowers a ‘Pre-agreement Truth’ in Lending statement…