As part of the Bank’s support to its member countries, one of its products is consumer loans. Its objective is to contribute to improved standard of living and quality of life of citizens of member countries through direct financing of a wide range of secured and unsecured loans to consumers for personal, family and household purposes. Following are the specific general information about our consumer loans.
Minimum Loan Amount: $500
Maximum Loan Amount: $25,000
Eligible Borrowers: Citizens of PIDB Member countries (Guam, CNMI, Palau, Chuuk, Kosrae, Pohnpei, Yap)
Interest Rate: 12% fixed
Loan Term: 5 years maximum
Eligible Expenses: Purchase of car, boat, recreational vehicle, personal, family, household and education purposes; debt consolidation
Prior Requirements: Copy of purchase agreement, Bill of Sale, Insurance quotation, copy of Title
Collateral Required: May be required on a case by case basis
$500.00 – $2,500.00 – $25.00
$2,500.01 – $5,000.00 – $75.00
$5,000.01 – $10,000.00 – $100.00
$10,000.01 – $15,000.00 – $150.00
$15,000.01 – $20,000.00 – $200.00
$20,000.01 – $25,000.00 – $250.00
Closing costs may be taken from the loan.