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Glory Consumer Loan

Glory Consumer loan is a loan facility product that enables individual customers meet some financial obligations e.g. payment of rent, development of property etc. It has a maximum repayment period of 24 months.

Features

The scheme finances only personal assets. Assets with business undertone are not financed under this scheme.
The maximum loan under the scheme is 50% of applicants’ annual income.
It is open to only GMFB customers with current accounts.
Benefits
Interest rates are negotiable and competitive, as interest charges are calculated on a reducing balance basis.
Easy and convenient repayment terms as the credit facility can be spread over a period of 6-24 months.
Target Market
The product targets individuals who are employed with regular income.

Benefits

Check List

Completed Consumer Loan application form
An operative current account (COT free) through which customer will be re-paying the facility
Form of Identification (Valid international passport, driver’s license, National ID or employee ID)
Letter of introduction/Undertaking from Employer stating the employee’s length of service, position, level of indebtedness to the organization, net monthly salary etc (see attached draft)
Three (3) passport photograph
Additional security (e.g. land, building) may be required. Please note that all landed property must be physically sighted and verified by the account officer and all title documents submitted
Domiciliation of salary payment with GMFB or 3rd party personal/Corporate guarantor
Guarantor Personal Financial Information
Post dated cheques dully signed by the applicant will also be collected as additional comfort for applicants not having salary accounts with GMFB.
Repayment Schedule
Application letter
Personal Financial Insurance Information form

Application form

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