A consumer loan may also be referred to as a personal loan. Consumer loans are granted on the basis of a member’s integrity and their ability to repay. In order to apply for a consumer loan, members would require the following:
- A Job letter
- Two Recent Salary Slips
- Documentation for the Loan Purpose (If Applicable)
- Regular Share deposit amount equal to 1/3 of the total Loan value
Consumer loans attract an interest rate of 12% per annum.