The core function of this loan is to provide members with access to immediate cash for fees, book and school supplies to assist in funding their children’s and their own educational demands.
Eligibility – members must be in good standing and accounts must not in be arrears or have delinquent payments for re-payment of loans granted prior to 6 months.
- Maximum amount to be loaned is $15,000.00.
- Repayment terms are up to 24 months if the value is over $5,000.00| 12 months if the value is less than $5,000.00
- *No security is required to access this loan.
- Repayment period: 24 months
- Interest Rate: 12% per annum on reducing balance
- Salary Slip (Recent)
- Form of ID (Valid)
- Job Letter
- Letter of Acceptance from Institution
- Fees Structure
- Fees Statement with outstanding balance (If not 1st year of study)
- Qualifying Shares (i.e. Shares not held against existing loan)