A consumer loan is one availed to full time employees of companies to enable them improve their standard of life and living. It is available for the purchase of home assets such as generators, refrigerators, air-conditioners, settees, washing machines, etc.
The facility must be guaranteed by the respective employer and repayment must be by monthly deduction from the employee’s salary. The employee must be a confirmed staff of the company and total deductions must not be in excess of 50% of his net pay.
Also the company must be a preferred company with reputation for honouring obligations and must itself have being in business for not less than three (3) years.
However, we can accept members who are self employed but they must be able to demonstrate or show a consistent repayment source such that fluctuations in their business will not affect payment of their rentals.
