CREDIT PRODUCTS
Below are our Credit Products which you can benefit from as a member;
- Personal Loan,
- Business Loan
- Asset Finance
- Education Loan
- Salary Advance
- Welfare Scheme Loan
- Contract Finance
- Group /Cell loans
CREDIT REQUIREMENT
- Application Letter
- Evidence of Capital/ Capacity adequacy to repay the facility
- Collateral
- Counterpart fund
- Other conditions as approved by the Management and supervisory body depending on the type of loan requested.
OTHER CONDITIONS
- Applicant must have been in a relationship with us for minimum of three months
- Applicant must be a member/share holder or an investor
- Maturity period of all facilities granted is maximum of six months but could be renewed if well utilized
- Disbursement of approved facilities is between 0-21 days depending on the amount approved.
- Interest rate ranges between 0-10% monthly
- Agreed daily/weekly/monthly loan repayment plan attracts 10% penal charge on default plus 10% penalty on complete repayment default
- Two reputable Guarantors from the cooperative society or outside must sign for all membership loans or provisions of collateral for the loan granted.
