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How to get a loan from Consolidated Bank Ghana

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If you wonder how to get a loan from Consolidated Bank Ghana, this article will put you through it. Consolidated Bank Ghana offers some loan products to its customers. This is because it is typical for people to have financial responsibilities that they must meet. Therefore, offering these loan products is a way of serving the best interest of its customers.

As you read along, you’ll learn more about the loan products they offer, benefits, features and requirements.

consolidated-bank-ghana

About CBG Bank

The Bank of Ghana has licensed Consolidated Bank Ghana Limited (CBG) as a Ghanaian Universal Bank under the Specialized Deposit-Taking Institutions Act of 2016. (Act 930). So, on August 1, 2018, the Bank began operations. The Bank has 114 branches spread across Ghana’s 13 districts, with its corporate headquarters in Accra.

What are the loan products of Consolidated Bank Ghana?

It offers several loans/ credit services to its customers. They include:

1. Dreamlife (Consumer Asset Finance)

You can get what you need from any of their partner suppliers at the showroom pricing and pay over 12 months with Dreamlife. There are no hidden fees or levies, and there is no interest! Customers who get their salary through a CBG current account are only eligible.

What are the benefits of Dreamlife loans?

The following are the benefits of Dreamlife loans:

  1. It has a 0% interest rate.
  2. There’re no fees or charges for early payoff.
  3. It has easy access to loans for qualifying applications.

What are the features of Dreamlife loans?

It comes with the following features:

  1. It has a 45% monthly salary repayment amount.
  2. Has up to 12 months’ repayment period.
  3. You can access up to GH₵100,000.00

What are the requirements for Dreamlife loans?

The following are the requirements you will provide:

  1. The loan application form you have completed.
  2. A valid identification card they accept nationally. Such as a driver’s license, voter ID, national ID or passport.
  3. Last 3 months payslips (proof of income)
  4. Passport photograph.
  5. Your proof of employment also gets a letter of undertaking from your employer.
  6. Get 3 months’ salary credit from the Consolidated Bank Ghana bank statement.
  7. Show 6 months’ bank statements from the other bank. For customers who wish to apply after getting their first salary payment through the CBG salary account.
  8. Provide an invoice from your vendor.

2. Persa loans (Personal salary loans

Individual salary workers who get their income in the CBG current account can use the persa loans to get funding for their immediate needs.

What are the benefits of persa loans?

The benefits that come with this loan offer include:

  1. For qualifying applications, there’s easy access to loans.
  2. It has competitive interest rates
  3. There’s no charge for an early payoff

What are the features of persa loans?

The features it comes with include:

  1. Access to loans of up to GH₵250,000.00
  2. You’ll have up to a 48-month repayment period.
  3. It has a 45% monthly salary repayment amount.

What are the requirements for persa loans?

To get this loan, you must meet the following requirements:

  1. The loan application form you have completed.
  2. A valid identification card they accept nationally. Such as a driver’s license, voter ID, national ID or passport.
  3. Last 3 months payslips (proof of income)
  4. Passport photograph.
  5. Your proof of employment also gets a letter of undertaking from your employer.
  6. Get 3 months’ salary credit from the Consolidated Bank Ghana bank statement.
  7. Show 6 months’ bank statements from the other bank. For customers who wish to apply after getting their first salary payment through the CBG salary account.

3. Corporate Employee Scheme Loan

This type of loan offers employees of reputable organisations the opportunity to finance their dreams.

What are the benefits of corporate scheme loans?

The following are the benefits of corporate scheme loans:

  1. It has competitive interest rates
  2. It has a 0% interest rate for Dreamlife loans.
  3. There’s no charge for an early payoff.
  4. It has easy access to loans for qualifying applications.

What are the features of corporate scheme loans?

The features of corporate scheme loans include:

  1. You’ll have up to a 48-month repayment period.
  2. It has a 45% monthly salary repayment amount.
  3. Has up to 12 months repayment period for Dreamlife loans.
  4. Access to loans of up to GH₵250,000.00
  5. You can access up to GH₵100,000.00 for Dreamlife loans.

What are the requirements for corporate scheme loans?

For any loan type, you must meet some requirements. However, corporate scheme loans are not an exception. The requirements include:

  1. The loan application form you have completed.
  2. A valid identification card they accept nationally. Such as a driver’s license, voter ID, national ID or passport.
  3. Last 3 months payslips (proof of income)
  4. Passport photograph.
  5. Get a complete company profile.
  6. Get a complete agreement document between the bank and the employer.

4. Cash-Backed Facilities

With CBG, you can secure your loan with cash or near-cash assets. However, the credit facilities available under this product are term loans and overdrafts for individuals.

What are the benefits of Cash-Backed Facilities?

The following are the benefits it comes with:

  1. It has competitive interest rates
  2. There’s no charge for an early payoff.
  3. It has easy access to loans for qualifying applications.

What are the features of Cash-Backed Facilities?

Cash-Backed Facilities have some features which include:

  1. It covers near cash or cash as security.
  2. It has a flexible repayment term.
  3. The maximum loan duration is 48 months for term loans and 12 months for overdrafts.

What are the requirements of Cash-Backed Facilities?

The following are the requirements you must meet to get it:

  1. The loan application form you have completed.
  2. Successful performance of customer due diligence. Verification of the source of the funds.
  3. Lien letter with a right of set-off.
  4. Signed accepted facilities letter.

What are the deposit accounts Consolidated Bank Ghana offer?

Besides the loan products Consolidated Bank Ghana offers, there are various deposit accounts they offer. They are:

  1. Classic Current Account
  2. Flex Plus Account (F-Plus)
  3. Flex Current (classic and gold) 
  4. Priority Current 
  5. Priority Black 
  6. Classic Savings Account 
  7. 1st Account 
  8. Yolo Account 
  9. Mane Me Account
  10. Platinum Investment Account

What are the contact details of Consolidated Bank Ghana?

For more enquiries, you can contact them at their:

  1. Street address: South Liberation Link Manet Tower 3, Airport.
  2. Postal Address: P.O. Box CT 363, Cantonment Accra, Ghana.
  3. Telephone: 0302216000
  4. Toll-Free Lines: Vodafone 0800110055
  5. Email Address: talktous@cbg.com.gh

Read also: How to get a loan from Stanbic IBTC bank

Conclusion

Consolidated Bank Ghana offers the loan products above to help its customers meet their financial obligations. Besides that, they also provided the features and requirements for those loan products. Therefore, you can easily apply for those loans once you meet their loan requirements. However, as a borrower, before accepting any loan offer, ensure you can easily repay them. Otherwise, your financial situation (credit score) could become worse than it was. Also remember to consider other loan alternatives, such as getting financial support from credit unions. Besides that, financial help from your family and friends could come in handy.