LOANS

This is a cash request from members to meet up various financial needs. Members are entitled to twice their savings subject to eligibility with flexible interest and repayment method and cash disbursed within 24 hours.

The Loan product of the cooperative is in various categories:

Cash loan - This is the type of loan which has a friendly interest rate with a convenient repayment duration
5% (6 months)
10% (12 months)
15% (18 months)

Mortgage loan – This is a special loan for landowners under our Land scheme purchase scheme to develop their plot(s) and making their dream house a reality. The repayment duration is 24 months @ 8%

Salary advanced loan – A special loan to meet some obligations before payday with an Interest rate of 2%

Grants – These are grants during the festive period. Deductible for 3 months @ 5 %.

Capital item -These are purchases of household appliances on behalf of members directly from the vendors