Vehicle Insurance Loan

Loan is for the sole purpose of covering yearly vehicle insurance premium.

Loan Details:

  • Should Members acquire Insurance from Colfire, they would be eligible for an additional 20% special discount.
  • Member can apply every year for the facility for insurance renewal.
  • Facility can be used for the duration of the vehicle loan.
  • Loan will be for a maximum period of 11 months.
  • 10% of unencumbered shares will be required per request.
  • Loan can be applied for insurance for following type of vehicles: Cars, SUVS, Maxi Taxis, Taxis, Pick Ups, Trucks and Vans.
  • Loan is applicable to new, used, roll on/ roll off vehicles.

Required documents for this loan:

  • Share requirement based on length of membership and relationship with Credit Union
  • Job Letter
  • Recent salary slip
  • Evidence of Income/Expenditure (Self Employed)
  • Bank Statements – 12 – 18 months (Self Employed)
  • Quotation from insurance company/ renewal

Do you have those requirements?

Apply for this loan

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