Consumer Finance Loan
Our Consumer Finance Term Loan is an unsecured personal loan used to finance consumer appliances and renewable energy products on a short-term basis through our partner vendors or dealers. Loans are available to customers earning a minimum net salary of GHS500 a month.
GHS 300,000
Maximum loan amount
2%
Facility fee
Some Benefits of Consumer Finance
Secure
Reliable loans with reliable repayment terms
Your terms
Choose to repay your loan at the pace you're comfortable with
Flexibility
Top-up option available for existing loans after consistent repayment
Insurance
Credit Life Insurance that covers permanent disability and death
What you get
- Loans range from GHS500 to GHS300 000
- Loan terms - Up to 24 months for lifestyle devices/Up to 48 months for household appliances/Up to 60 months for solar systems
- Maximum loan term tied to your retirement age
- Competitive interest rates
- Facility fee of 2% of loan amount
- Credit Life Insurance that covers permanent disability and death
- Can be taken as a second unsecured term loan with us
- Flexible repayment options through salary account with us or direct payroll deduction by employer
How to get it
- Be a salaried employee permanently employed with employment confirmed
- Be a salaried income earner working for any of our Workplace Banking Scheme companies
- Earn a minimum salary of GHS500 a month
- Be over 21 years and not more than 60 years on expiry of the term of your loan.
- Choose product from vendor’s shop or catalogue
- Fill in a loan application and attach the following supporting documents:
- Letter of Undertaking from employer
- Pro-forma invoice from vendor/dealer
- Statement of account from previous bank (new customers only)
- Confirmation of current salary or pay slip
- Give your filled in application form to a consultant at a branch/Executive Banker or PSC or vendor’s sales officer
- Loan is approved subject to a positive report from credit bureau and amount is then paid to the vendor
- You arrange for delivery of the product or items financed from the vendor
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What you get
-
How to get it
- Loans range from GHS500 to GHS300 000
- Loan terms - Up to 24 months for lifestyle devices/Up to 48 months for household appliances/Up to 60 months for solar systems
- Maximum loan term tied to your retirement age
- Competitive interest rates
- Facility fee of 2% of loan amount
- Credit Life Insurance that covers permanent disability and death
- Can be taken as a second unsecured term loan with us
- Flexible repayment options through salary account with us or direct payroll deduction by employer
- Be a salaried employee permanently employed with employment confirmed
- Be a salaried income earner working for any of our Workplace Banking Scheme companies
- Earn a minimum salary of GHS500 a month
- Be over 21 years and not more than 60 years on expiry of the term of your loan.
- Choose product from vendor’s shop or catalogue
- Fill in a loan application and attach the following supporting documents:
- Letter of Undertaking from employer
- Pro-forma invoice from vendor/dealer
- Statement of account from previous bank (new customers only)
- Confirmation of current salary or pay slip
- Give your filled in application form to a consultant at a branch/Executive Banker or PSC or vendor’s sales officer
- Loan is approved subject to a positive report from credit bureau and amount is then paid to the vendor
- You arrange for delivery of the product or items financed from the vendor