According to section 4 of law No. 2019/021 of 24 December 2019 to lay down some rules governing credit activities in the banking and Micro-Finance sectors in Cameroon, all natural persons applying for a loan shall be required to provide to the credit provider, information required to assess their repayment capacity.
Any natural person applying for a loan shall provide to the credit
institution details of his/her financial position, in particular:
- Monthly payslip(s), where he/she is an employee, and that of the spouse where applicable;
- Information relating to any other income from investments (rents or financial income);
- Where applicable, copyright, royalties, alimony received, disability pensions;
- Declaration of assets;
- Monthly repayment instalments of current loans (mortgage, car loan, consumer credit, etc.);
- Rent amount, including rental charges if a tenant;
- Building maintenance expenses and property tax, if a house owner;
- The amount of any support and other compensatory benefits payable;
- Withholdings on wages and other deductions following a conviction;
- The existence of revolving credits; etc.
The credit institution may request any other document likely to inform its decision.