Vehicle Insurance Loan

Secure Your Journey.

Vehicle Insurance Loan Details and Benefits

At Eastern Credit Union, we understand the importance of safeguarding your vehicle. Our Vehicle Insurance Loan is specifically crafted to provide peace of mind by covering your yearly vehicle insurance premiums. Whether it’s for personal or commercial use, we offer a straightforward and supportive solution to manage your insurance payments, ensuring your vehicle stays protected all year round.


Annual Renewability

Members can reapply each year for insurance renewal.

Duration Compatibility

Facility available for the entire duration of your vehicle loan.

Loan Term

Maximum period of 11 months to align with your insurance cycle.

Share Requirement

Just 10% of unencumbered shares required per request.

Vehicle Type Coverage

Suitable for Cars, SUVs, Maxi Taxis, Taxis, Pickups, Trucks, and Vans.

Vehicle Eligibility

Applicable to new, used, and roll on/roll off vehicles.

Required Documents for Loan Application

  • Current Job letter.
  • Recent salary slip.
  • Two forms of ID.
  • Utility Bill or Bank Statement
    (Members without a utility bill/bank statement in their name are advised to provide a letter from the addressee on the utility bill confirming their address & valid copy of their ID).
  • Invoice for vehicle and quotation for Fully Comprehensive Insurance from Maritime.
  • Quotation for Insurance.

Ready to Insure Your Vehicle?

Secure your vehicle’s insurance with ease. Apply now for our Vehicle Insurance Loan and keep your vehicle protected without financial strain. Simply fill out the form below, select your preferred branch, and let us take the worry out of your vehicle insurance payments.

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Quick Loan Calculator

Utilize our Quick Loan Calculator to estimate your monthly payments and find the perfect fit for your budget.