These loans will be granted for the purchases of land, vehicles, property, plant and equipment, buildings both residential and commercial houses among others-(basically for personal major developments).
Loans will be repaid within a period of 48 months.
Interest charged at 1 % per month on a reducing balance method
Loan application supported by the member’s latest pay slip and shares
Loan can be secured by either guarantors or title deeds.
Normal loans will have a top up facility for members who have paid at least 2/3rd of the initial loan.