At COB, we believe in making your life as easy as possible. Travel in comfort in your own ride when you obtain a COB Vehicle Loan.
Below are the categories of loans on offer and the documentation required to make applications for these loans.
Persons applying for new vehicle loans are required to supply us with the following:
Persons applying for used vehicle loans are required to supply us with the following:
Used vehicles should not be older than six (6) years old. A percentage deposit of the total cost of the vehicle must also be on the account at the time of the application.
Below are the documents required to make and application for this category of loan:
Our turn around time for loan secured by your savings is the same day. For regular loans it should not exceed a week. Mortgages are more involved as there is the need to be processed by a legal entity and therefore will take longer.
We lend on the strength of your security, but not in every case. The application will be assessed on an individual basis.
There is an assessment process. If lending is approved you may be called on the same day or at latest the following day.
For loans approved during the 1st and 10th of the month, repayment is the end of the current month. Repayment will commence at the end of the following month on all loans approved after this date.
It is our policy to have a record of the payee and is in keeping with what you requested.
Click on the ‘Request a loan’ link on the top right side of the menu bar. Follow the instructions there. You will need to be a member and provide two most recent pay slips.
There is no policy on this. Every member’s situation is different.
Apply for a personal loan online, provide your details below in the application form and a representative will get back to you.