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Cannan Finance Application Form-Private

This document contains a loan application form for Cannan Finance. It requests personal details like name, address, employment information and salary details. It outlines the loan amount requested, interest rate, repayment schedule and authorization for salary deductions. The applicant acknowledges the terms, including default fees and legal fees if repayment is not made. A repayment schedule shows loan amounts and the declining balance over 10 fortnights. Requirements to apply include payslips, superannuation ID, application form and employment letter.

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Christopher Aiyapi
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783 views2 pages

Cannan Finance Application Form-Private

This document contains a loan application form for Cannan Finance. It requests personal details like name, address, employment information and salary details. It outlines the loan amount requested, interest rate, repayment schedule and authorization for salary deductions. The applicant acknowledges the terms, including default fees and legal fees if repayment is not made. A repayment schedule shows loan amounts and the declining balance over 10 fortnights. Requirements to apply include payslips, superannuation ID, application form and employment letter.

Uploaded by

Christopher Aiyapi
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd
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Fast Easy Convenient LOAN APPLICATION FORM

PERSONAL DETAILS EMPLOYMENT DETAILS


NAME: EMPLOYER:
DATE OF BIRTH: GENDER: OCCUPATION:
HOME PROVINCE: DISTRICT: LOCATION:
VILLAGE: BIRTH PLACE: FILE NUMBER:
RESIDENTAL ADDRESS: GROSS SALARY:
MARITAL STATUS: NET SALARY:
SPOUSE NAME: EMAIL ADRESS:
SUPERANNUATION (Tick the box) Nambawan Super Nasfund WORK PHONE #:
Membership #: MOBILE PHONE #:

MODE OF PAYMENT
Account Name: Account Number: Bank: Branch:

LOAN DETAILS
[AMOUNT IN WORDS]

LOAN AMOUNT: K
LOAN PLUS 35% INTEREST: K
OUTSTANDING BALANCE: K
APPROVED AMOUNT: K

IRREVOCABLE SALARY DEDUCTION AUTHORITY

TO: Paymaster of ….…………..……………………………………………………………..

I hereby authorize you to deduct K from my monthly/fortnightly salary


commencing on this Pay Period Ending (PPE) / /20 for consecutive fortnights totalling K and remit
payment in favour of CANNAN Finance, ACC#: 7016045317 BSP Waigani Drive.

You are also authorized to remit from my final entitlements the outstanding balance of my loan upon my Resignation, Termination, Retrenchment or
Death to CANNAN Finance.

[The above authority is irrevocable without the written concent of CANNAN Finance ]

[Pay Master’s full name] [Signature] [Company stamp]

IRREVOCABLE DECLARATION BY APPLICANT


• In the event of my Resignation, Termination, Retrenchment or Death, I irrevocably assign to CANNAN Finance, pursuant to the Mercantile Act,
all of my Entitlements and Savings, my Finish Pay Entitlements, Superannuation (Nambawan Super/Nasfund) and others (Specify below)

• Default fee of 40% will incure on all outstanding balances as per the repayment schedule upon every pay period ending.
• All expenses involved including legal fees in recouping monies owed to CANNAN Finance will be made payable by the applicant on demand
and I authorize CANNAN Finance to check all my personal details of Employment and credit history with Credit Bureau.

APPLICANTS ACKNOWLEDGEMENT
• I acknowlwdge that I have read and understood the contents of this Loan Agreement and that by signing this Contract, I am Legally bound by
the said terms and conditions therein.

/ /20
[Applicants Name] [Applicants Signature] [Witness’ Signature] [Accepted Date]

NOTE: Strictly no cash transaction allowed.


Fast Easy Convenient FORTNIGHTLY LOAN REPAYMENT SCHEDULE

NUMBER OF FORTNIGHTS
LOAN AMT 1 2 3 4 5 6 7 8 9 10
300.00 405.00 202.50 135.00
400.00 540.00 270.00 180.00 135.00
500.00 675.00 337.50 225.00 168.75 135.00
600.00 810.00 405.00 270.00 202.50 162.00
700.00 945.00 472.50 315.00 236.25 189.00 157.50
800.00 1080.00 540.00 360.00 270.00 216.00 180.00
900.00 1215.00 607.50 405.00 303.75 243.00 202.50 173.57
1000.00 1350.00 675.00 450.00 337.50 270.00 225.00 192.86
1100.00 1485.00 742.50 495.00 371.25 297.00 247.50 212.14 185.63
1200.00 1620.00 810.00 540.00 405.00 324.00 270.00 231.43 202.50
1300.00 1755.00 877.50 585.00 438.75 351.00 292.50 250.71 219.38 195.00
1400.00 1890.00 945.00 630.00 472.50 378.00 315.00 270.00 236.25 210.00
1500.00 2025.00 1012.50 675.00 506.25 405.00 337.50 289.29 253.13 225.00 202.50
1600.00 2160.00 1080.00 720.00 540.00 432.00 360.00 308.57 270.00 240.00 216.00
1700.00 2295.00 1147.50 765.00 573.75 459.00 382.50 327.86 286.88 255.00 229.50
1800.00 2430.00 1215.00 810.00 607.50 486.00 405.00 347.14 303.75 270.00 243.00
1900.00 2565.00 1282.50 855.00 641.25 513.00 427.50 366.43 320.63 285.00 256.50
2000.00 2700.00 1350.00 900.00 675.00 540.00 450.00 385.71 337.50 300.00 270.00
2100.00 2835.00 1417.50 945.00 708.75 567.00 472.50 405.00 354.38 315.00 283.50
2200.00 2970.00 1485.00 990.00 742.50 594.00 495.00 424.29 371.25 330.00 297.00
2300.00 3105.00 1552.50 1035.00 776.25 621.00 517.50 443.57 388.13 345.00 310.50
2400.00 3240.00 1620.00 1080.00 810.00 648.00 540.00 462.86 405.00 360.00 324.00
2500.00 3375.00 1687.50 1125.00 843.75 675.00 562.50 482.14 421.88 375.00 338.50
2600.00 3510.00 1755.00 1170.00 877.50 702.00 585.00 501.43 438.75 390.00 351.00
2700.00 3645.00 1822.50 1215.00 911.25 729.00 607.50 520.71 455.63 405.00 364.50
2800.00 3780.00 1890.00 1260.00 945.00 756.00 630.00 540.00 472.50 420.00 378.00
2900.00 3915.00 1957.50 1305.00 978.75 783.00 652.50 559.29 489.38 435.00 391.50
3000.00 4050.00 2025.00 1350.00 1012.50 810.00 675.00 578.57 506.25 450.00 405.00

LOAN REQUIREMENTS;

• Two latest payslips.


• Current Valid Nasfund/Nambawan Super ID plus either work or NID card.
• Complete Application Form plus Irrevocable Salary Deduction Authority stamped and signed by Pay Officer.
• Letter of Employment from HR.
• Minimum net requirement K400.00.

NOTE: Strictly no cash transaction allowed.

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