With Ghana being listed among developing countries in sub-Saharan Africa as being a middle-income economy country, the phrase loan does not come as a surprise to anybody. In today’s guide, we shall look at CBG loans.
Credit facilities have been one of the major services that banks are largely characterized by because of the relief it offers financially to individuals and businesses.
Loan service has become an avenue through which most banks expand the horizon of their financial asset, and it is with no surprise that Consolidated Bank of Ghana has increased its financial assets through this avenue to be among the top five (5) banks in terms of assets in Ghana.
Consolidated Bank of Ghana provides loan facilities for both individual clients and businesses. This means that CBG loans are available only to their account-holders.
They have various loan facilities to serve every financial need you can thank of. Not only are CBG customers privy to these credit facilities, but they also have flexible terms and conditions for payment.
CBG loans have no charges for early payoff. It is fast and easy to apply.
All CBG loans are available at any of their 114 branches scattered across Ghana. You can visit any of these branches to apply for the Consolidated Bank Ghana loan facility once you satisfy the needed requirements.
Let’s now look at what you will need to get a loan at CBG.
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CBG Loan Requirements
Below are what you will need to secure a personal loan at CBG in Ghana:
- Fully completed loan application form
- A valid national ID (Passport, Voter’s ID, Ghana card, Driver’s license)
- Payment slip for the last three (3) months
- Proof of employment
These are the general things you will need to get a CBG personal loan. All other requirements are communicated to you depending on the type of loan you are applying for.
CBG Loan Types
Consolidated Bank loans are sectioned into two, CBG personal credit facilities and business credit facilities.
The CBG Personal loans are:
- Dreamlife (Consumer Asset Finance)
- Persa Loans (Personal Salary Loans)
- Corporate Employee Scheme Loans
- Cash-Backed facilities
CBG business loans include the following:
- SME Smart Loan
- SME Advanced Loan
- Vehicle & Asset Finance
- Key Distributorship Scheme
- Business Term Loan
- Business Overdraft
- Business Temporary Overdraft
- Business Cash-Backed
Who Can Apply for CBG Loans
Consolidated Bank of Ghana loans is available to all CBG account holders. Notwithstanding, before one can apply for a loan at CBG, the following credentials must be met.
- Have an active account at CBG
- The account should be at least six months old and operational.
- Should be 18years or above
- Should be a resident of Ghana
How Can I Apply for CBG Loans
Below are the steps to get a loan at CBG in Ghana:
1.Visit a CBG branch
2. Request from any of their staff that you want to apply for a loan
3. You will be directed to the appropriate department.
4. Your account number will be requested to check your account details.
5. The agent will brief you on the various loan facilities they have for you to choose from that can satisfy your need.
6. Do not hesitate to ask any questions concerning their loan facilities.
7. Provide all the necessary documents for the loan application
8. Complete the CBG loan application form
9. Submit the form to the agent
How Long Does It Take to Get CBG Loan
This depends on the type of loan you are applying for. Some CBG loans do not take more than a day to get. Averagely, it does not take more than seven (7) working days to get a personal loan at CBG. Also, business loans do not take more than two weeks to be secured.
What Are CBG Loan Interest Rates
Consolidated Bank Ghana has competitive interest rates for some of its credit facilities, whilst other loans attract no interest.
CBG prefers that customers who want to apply for any of their loans to furnish them with their employment status to advise them on the rates applicable for their loans
This is all that we have for you on CBG bank loans.
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