Members Eligibility for a Loan:
- Emergency Loans
- Amount borrowed shall not be more than 60% of the member’s savings.
- It attracts a one-off interest of 10%.
- Member’s savings will be used to settle the loan when it’s unpaid and past deadline.
- Borrowers are eligible to borrow immediately after payment.
2. Normal Loans
- These is given at a value that is four (4) times (*) your savings.
- They attract an interest of 1 % monthly payable in a minimum period of six months.
- It requires at least 2 guarantors who are active members.