Personal Banking
Consumer - EZ Loans
Whether you are thinking about purchasing property, starting your own business, consolidating debt or sending your children to college, ECAB has a loan to suit every need. Our aim is to help you achieve your goals by offering simple financial solutions, realistic advice and the personalized service that you have come to expect from your bank. You can remodel your home with a Home Equity Loan, purchase the perfect plot of land with our land loans, get next day approval for your vehicle financing needs or pay education costs with our student loan plan.
We offer:
- Attractive interest rates.
- Competitive Financing options.
- Flexible credit terms.
- Speedy approvals.
- No penalty for accelerated repayments.
- Optional repayment plans.
- Convenient payments options.
- Dedicated and knowledgeable Loans Officers.
At ECAB our team of friendly loans officers are ready to help you select the loan plan that is right for you. Contact us or apply for your ECAB consumer loan online today.
|
Loans
|
Benefits
|
Requirements
|
|
HOME EQUITY LOAN
|
- Up to 100% Financing
- Interest rates between 7% -8%
- A 30 year maximum term with Life Cover over 10 years
- Speedy approvals.
- No penalty on accelerated repayments.
- Funds can be disbursed to a checking or savings account to facilitate easy access.
|
- 2 Valid Picture IDs.
- Building estimate or invoice.
- Property valuation from reputable Evaluators recommended by ECAB.
- Job letter or proof of income.
- Life Insurance coverage and property insurance coverage assigned to the bank as a security measure.
- Credit Reference from other Banks and letter of Good Standing.
- Scheduled appointment for interview to complete and process loan application.
|
|
LAND LOAN
|
- Up to 95% Financing.
- Attractive Credit rate of 7%.
- A 30-year maximum term.
- Speedy approvals.
- No penalty on accelerated repayments.
- Funds can be disbursed to a checking or savings account to facilitate easy access.
|
- 2 Valid Picture IDs.
- Job letter or proof of income.
- Sale agreement.
- Proof of ownership from seller (copy of land register and title deed).
- Property valuation from reputable Evaluators recommended by ECAB.
- Credit Reference from other Banks and letter of Good Standing.
- Scheduled appointment for interview to complete and process loan application.
|
|
VEHICLE LOAN
|
- Up to 90% Financing.
- Attractive interest rate at 7%.
- A 7-year maximum term.
- Speedy approvals.
- No penalty on accelerated repayments.
- Funds can be disbursed to a checking or savings account to facilitate easy access.
|
- 2 Valid Picture IDs
- Job letter in confirmation of salary and terms of employment.
- Sales Invoice from seller.
- Valuation Report from reputable Evaluators for used vehicles. (Preferably recommended by us)
- Comprehensive Insurance for both new and used vehicle loans.
- Scheduled appointment for interview to complete and process loan application.
- More requirements
|
|
STUDENT LOAN
|
- Interest rate of 9% per annum charged on a reducing balance basis.
- No down payment required for loans up to $150,000.
- A 15-year maximum term.
- Monthly interest payments to portion of loan drawn.
- Flexible repayment options
- Optional repayment plan – weekly, semi-monthly, and monthly.
|
- Acceptance letter from School or University.
- Loans can be in joint names of the student and co-applicant / guarantor who will facilitate interest payment or servicing of the loan.
- Job letter in confirmation of salary and terms of employment for co-applicant.
- Security required in the form of cash, land or property and life insurance.
- Disclosure of personal assets, expenses and evidence of other income sources if applicable.
- Debt service ratio should not exceed 45% of net monthly income.
- Bank reference.
- Credit Reference from other banks
- Scheduled appointment for interview to complete and process loan application.
|
