We offer various loan products to members both secured loans and unsecured loans. These include short term loans up to 6 months and medium-term loans up to 12 months.

• A member qualifies for x3 of their current savings.
• Maximum loan varies depending on member savings, repayment period and repayment mode plus security.
• Maximum loan period is 12 and 24 months depending on the loan product taken
• Interest of 1.166% Per Month flat 14% Per annum. Interest rate varies depending on the loan product taken and the loan period
• No Collateral required except where applicable depending on the loan product
• All recoveries are at source except for secured loans where special consideration has been granted
• Guarantors required where there is no access to borrower’s pay

NOTE:

• Loans issued are x3 of a member’s savings recoverable direct at source in a maximum period of 12 months.
• All loans with an external recoverable component shall require guarantors and security where applicable. Guarantors to be held liable where the member defaults on the loan repayment.
• All loans beyond 12 months shall require collateral security equivalent to the value of the loan.