Asset Finance Loan

This product enables members to buy motor vehicles and other business assets that may be approved from time to time.


  • Member should have deposit to loan ratio of at least 1:5
  • 5 times multiplier on deposits
  • Maximum repayment period of 48 months
  • Interest charged at 1.125% per month on reducing balance method
  • Loan is open to offset by other loans
  • The asset financed must be 10 years and below
  • Loan secured by guarantors or collateral

The key requirements are as follows:

  • All vehicles covered except for PSV vehicles.
  •  Car value is the insurance premium.
  • Insurance policy must be completed and attached to the loan application.
  • Member must complete the loan application.

More requirements include:-

  • Cheques paid directly to the insurance company.
  • Loans repaid within a period 12months.
  • This loan is granted at a 1 % interest per month on a reducing balance method

N:B For payment charges refer to Tariff  Guide under downloads.