What is consumer credit ?
Consumer credit is used to finance the purchase of consumer goods (your car, your new TV, etc.). It obeys different rules of the mortgage, dedicated to the acquisition or the construction of a housing. Consumer credit is a contract whereby Benin MicroFinance provides a borrower with a sum of money to be repaid in installments over time. The principal objects of consumer loans are: Domestic appliances, Consumer goods (car, motorcycle) ... etc.
Where to subscribe ?
You can subscribe to any branch of Benin Microfinance (B.M.F), for some credits you can get closer to the head office at the General Management.
How it works ?
Each month, in its monthly installments, the borrower reimburses part of the borrowed sum (called "capital") and interest. These interests, as well as different fees (administration fees, insurance, ...) represent the cost of credit for the borrower.