Consumer Loan

An affordable automobile is one of the jewels in the crown of our daily life. It is a necessity than a luxury. Accordingly, Tsehay Bank offers esteemed customers to benefit from its automobile loan service/product.

Product Features

➧ The customer shall raise a 40% equity contribution from its source.
➧ If the customer is an FCY resource owner he/she shall deposit foreign currency channeled through the Bank in an amount of at least 20% of the cost of the consumer durable.
➧ The deposit shall be made in installments; with at least ¼ of the 40% deposit in each quarter.
➧ If the customer anticipates that the cost of the automobile will increase due to inflation, he/she can save more than the stipulated 40% or 20% amount.

Eligibility Requirements

To be eligible for the loan, the account holder is expected to deposit at least for a year. However, if the customer is willing to deposit the required equity contribution in lump sum at the outset, the Bank may consider the financing request within a period shorter than one year; yet the customer is expected to deposit the fund at least for six months.

This loan shall be extended in the form of term loan to individuals for the purchase of consumer durables like household supplies. 

Product Features

➧ The consumer shall raise 40% equity contribution from own source.
➧ If the customer is an FCY resource owner he/she shall deposit foreign currency channeled through the Bank in amount at least 20% of the cost of the consumer durable.
➧ Subsequent loan repayments can be made either using foreign currency channeled through the Bank or local currency.
➧ The deposit shall be made instalments; with at least ¼ of the 40% deposited in each quarter.

Eligibility Requirements

To be eligible for the loan, the account holder is expected to deposit at least for a year.