Consumption LoanConsumer Products
Consumption Loan is a product designed to provide existing and prospective clients of GMB MFB the capital to finance their heavy expenses like burial, wedding ceremonies etc. Consumption loan can be accessed by an individual who is a working class person with monthly or daily income salary.
At an affordable interest rate, GMB Microfinance Bank clients can now maximize their potentials with the GMB MFB Consumption loan to take care of your heavy expenses
For more information about the Consumption loan, kindly contact us on: GMB MFB nearest to you or call (08033428691) or 08032617122
- Facility amount up to ₦500,000
- Methodology : Individual
- Duration : 6 – 12 Months
- Access to funds for your expenses
- Flexible repayment structure guaranteed
- Expert financial advice is also available for you
- Loan application letter
- Duly completed application form
- 2 guarantors
- A valid means of ID (national ID, driver’s license, voter’s card or international passport)
- Current utility bill
- 2 recent passport-size photographs
1. Q: Do I need collateral before I can access this loan?
A: No, you do not need collateral before you can access the loan, once you can provide 2 guarantors that can stand for you in case of default.
2. Q: Can I reduce the repayment duration?
A: Yes. You can reduce the repayment duration to the number of months that suits you.
3. Q: Is there any issurance on the loan?
A: The loan is insured against death, fire in the business place or disability.