Loan Features
This facility shall be granted to members for emergency cases.
- The total outstanding loan must not exceed two times of a members deposit.
- Member must provide proof e.g medical receipts or Doctors report
- Maximum repayment period shall be twelve (12) months
- A Member shall qualify after three (3) months of consistent savings.
- Rate of interest 3% pm on reducing balance or as determined by the BOD from time to time Security for the loan must be provided,
- Processing fees 3% -one off and credit life insurance 1.5% annually
- Clean CRB report