Loans
Development Loan
Our Development Loans are designed to empower members to engage in long-term development projects. Whether you’re looking to expand your business, invest in education, or undertake a significant home improvement project, these loans offer the flexibility and support you need. Loans are issued at 3 times your savings, and guarantors are required. We also accept titles and logbooks as collateral. The loan has a repayment period of up to 24 months with an interest rate of 1% per month reducing balance.
Features:
- Loan Limit: Up to 3 times your savings.
- Collateral: Guarantors required; titles and logbooks accepted as security.
- Repayment Period: 24 months.
- Interest Rate: 1% per month.
- Purpose: Business expansion, home improvement, and other development projects.
Benefits:
- Affordable interest rates.
- Flexible repayment period.
- Opportunities for personal and business growth.
Emergency Loan
Emergencies can strike at any time, and our Emergency Loans are designed to help members manage sudden, unforeseen financial challenges. Whether it’s school fees, medical expenses, or other urgent needs, these loans offer quick access to funds. The loan is given at an interest rate of 1% per month and is payable within 12 months. We aim to approve and disburse emergency loans instantly, ensuring members receive timely financial relief.
Features:
- Loan Purpose: Covers urgent needs like court fines, school fees, medical expenses, and more.
- Disbursement: Loan is disbursed within 2 days maximum.
- Repayment Period: 12 months.
- Interest Rate: 1% per month for most emergencies.
- Loan Limit: Amount based on member savings and needs.
Benefits:
- Quick and easy loan approval for urgent needs.
- Short repayment period to avoid long-term debt.
- Peace of mind during emergencies.
Instant Loan
Our Instant Loans offer members quick access to funds within one day. This product is perfect for those who need immediate financial assistance for short-term needs. With a competitive interest rate of 2% on a reducing balance and a repayment period of 6 months, this loan helps you cover urgent expenses with ease.
Features:
- Disbursement: Loan is disbursed within 24 hrs of application.
- Interest Rate: 2% on a reducing balance.
- Repayment Period: 6 months.
- Purpose: Ideal for short-term financial needs that require immediate funds.
Benefits:
- Receive funds within one day of applying, ensuring you have immediate access to cash when time is of the essence.
- With an interest rate of 2% on a reducing balance, you pay interest only on the remaining loan balance, saving you money on your loan.
- A 6-month repayment period allows for easy, short-term management of your financial obligations, keeping your monthly payments affordable.
- Perfect for unexpected or urgent short-term expenses, giving you quick solutions without long-term commitment.
