Loan Features

This facility shall be granted to members for emergency cases.

  1. The total outstanding loan must not exceed two times of a members deposit.
  2. Member must provide proof e.g medical receipts or Doctors report
  3. Maximum repayment period shall be twelve (12) months
  4. A Member shall qualify after three (3) months of consistent savings.
  5. 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,
  6. Processing fees 3% -one off and credit life insurance 1.5% annually
  7. Clean CRB report