Consumer Loan
Wegagen Bank provides loan to employees of companies that are corporate customer. The loan facilities provided includes household items, vehicles and houses, with relaxed repayment schedules extending from mid to long term, depending on the loan.
Features and Benefits
• For purchase of a vehicle the customer should deposit 10% of the value initially, and additional 15% within the first six months and the remaining 15% in the next six months.Then after, the Bank provides loan for the remaining 60% of the value.
• For purchase of a house the customer should deposit 10% of the value initially and additional 10% within the first six months and the remaining 10% in the next six months.Then after, the Bank provides loan for the remaining 70% of the value.
• The interest rate is calculated as per the Bank’s terms and tariffs.
• The maturity of the loan for a Vehicle is 7 years and 10 years for acquisition of a House
• The assets acquired with the Bank’s finance shall be used as collateral.
• The account holder should deposit at least for one year to be eligible for the loan.
Requirement
All the requirements for account opening and credit facilities stipulated in the Bank’s procedures would also apply.