A character loan is a type of unsecured loan that is made on the basis of the borrower’s reputation and credit.
Maximum Repayment Period
Like all TECU loans, there is no limit on the amount being requested.
- Two forms of valid ID
- Utility Bill
- Evidence of Income (Payslip- not older than 1 month and Job Letter- not older than 3 months)
- Supporting document for the purpose of loan
- Required share balance
TECU’s loans are fully insured by our Loan Protection plan. Upon death loans are insured as follows:
|86 years and over||$0.00|
Call us today for up-to-date rates. Ask for a Loans Officer, who will be more than willing to assist you.
Ready to apply?
Apply for a loan online and get a response within 60 minutes (applicable during working hours).
Make an appointment with a Lending Specialist.
How much can I borrow?
With our borrowing power calculator, you can estimate how much you can borrow and what your repayments would be.
Note: Mobile and tablet users may experience minor
usability issues with the calculators.
Helpful hints in securing a loan
Build your borrowing capacity
- Present shareholding and frequency of contribution towards shares
- Assets such as property, vehicles, savings at other financial institutions and Liabilities i.e. other loans/ debts
- Employment status and history
- Your Shareholding and share buildup within the credit union
- Your Share to Loan Ratio, which is your total shares divided by the total loans that are currently outstanding (Shares/Loans)
- Your existing loan balance and your indebtedness
- Savings, Borrowing and Repayment History within the credit union
- The primary purpose of the loan
- Your age, current salary, employment status and duration of membership
- The availability of adequate and marketable security and other assets