Motor Vehicle Loan

Members can access ten (10) times their shares to a maximum of $10 million to be repaid in 2-10 years.

This loan will attract an interest rate as follows:

15 %
New Vehicles
15 %
2017 - 2019
20 %
2013 - 2016

The motor vehicle must be used as collateral for this loan

 

The motor vehicle must be comprehensively insured, and the credit union’s name must be endorsed on the Insurance Policy.