The purpose of this loan is to assist our membership in enhancing their Wealth creation drive, while providing them with cash resources. With a maximum loan amount of $20,000.00, members will be able to grow their savings with 60% of the loan being placed onto their Share Account and 40% paid in cash.
- Repayment Period: 24 months
- Service Charge of 10% per annum is levied upon this loan plan.
- Every member is eligible to access the loans on this plan once he/ she satisfies the following criteria:
- Applicant’s account must not be in arrears
- Must not have liquidated loan balances within the last 6 months due to inability to meet commitments
- Must show ability to repay the loan within a 24 month period.
- Evidence of Income (Payslip / Job Letter)
- Any other documents that may be necessary