Petra Credit
All You Need To Know
About Petra Credit

Petra Credit is a savings or pension-backed loan product developed by Petra to provide relief to you, as a Tier 3 contributor, by allowing you to have prompt access to up to 80% of your balance without redeeming your funds or disrupting your savings plan.

Petra Credit provides a variety of short-term loan facilities designed for individuals who contribute to the Petra Opportunity Pension Scheme (Tier 3) or Savings Booster and are willing to pledge their funds as security for the loan. Petra Credit is powered by licensed third-party banking institutions for the provision of loans as stipulated in Section 113 of the National Pensions Act, 2008 (Act 766).

This product is ideal for Savings Booster and other Tier 3 contributors in urgent need of money to accomplish a short-term goal, but do not want to distort the progress and growth of their investment.

If you have built up a balance in your retirement fund over the years, you could use these funds as collateral to access a loan when any unplanned emergency occurs, so why not?

Once you are a tier 3 contributor with Petra or have a savings booster account, you automatically qualify to get a loan using your investment as collateral. With this, you can get access to instant cash without having to touch your investments.

The maximum loan term is 3yrs (36 months).

What Are The Advantages Of Petra Credit?
Grow or maintain your Tier 3 investments and returns: Enjoy short-term loans without disrupting your pension investments.
No collateral needed: Petra Credit will use part of your existing Tier 3 funds as security. You don’t have to go through the hassle of providing collateral.
No guarantor needed: Unlike most other loans, you don’t need a co-signer to repay your debt in case you are unable to pay.
Enjoy lower-than-market rates: With different loan providers to choose from, you can select one that best suits your needs based on their rate.
Faster turnaround time than making a redemption of your funds.

Why Choose Petra Credit?

Petra Credit allows you quick access to the funds you urgently need without touching your investments.

With Petra Credit

  • No guarantor required.
  • Enjoy a range of competitive interest rates to choose from.
  • Same-day disbursement.
  • No additional collateral required.

How Much Can Be Borrowed?

  • The loan amount depends on how much you have saved in your retirement fund, and you are allocated up to 60% – 80% of your funds.


  • The loan value you borrow against your retirement savings is based on the rules as set out by the individual fund.

Petra Credit Loans are provided to all employees of participating tier 3 funds or savings booster irrespective of income bracket.

Disbursement and Payments

Timely disbursement of loans and convenient pay back options for applicants.

How Will I Receive The Funds?

If approved, your funds could be made available to you through several options. You may decide on which option is more convenient for you during the application process. Your options include:

  • A bank transfer to your existing bank account.
  • Mobile Money.
  • Deposit into an account the loan provider may open for you.

How Do I Repay the Loan?

Once your loan is disbursed, a loan repayment schedule will be shared with you. This schedule will highlight the portion of the principal and interest to be repaid monthly over the tenor of the loan. On each repayment due date, you will be expected to make your payment to the loan provider via either of the following means:

  • Mobile money transfers
  • Bank transfer from your bank account
What Is The Signup Process?
Download Forms or Apply Online
Download the form, sign and send to our email OR Use our online application.

To access a loan under Petra Credit, Use our Online Application OR follow these simple steps below:

  • Click “Download Form” below to Download your Tier 3 Statement from.
  • Send soft copies of the filled Loan Application Form, Borrower’s Mandate, and Tier 3 statement by email to [email protected] or [email protected].