The member should have in his subscription savings an amount equal to or more than the amount of loan that can be granted; e.g if the amount balance in the subscription is $7,000/- the loan granted shall not exceed $7,000/- (The subscription is held as collateral for the loan)
Repayment Period
Minimum repayment period shall be between 12 months and 48 months in equal monthly installment
Interest Rate
6% per annum
Overlapping Loan
Members may apply for a further loan even before a previous loan is fully repaid. Such overlapping loan shall not be granted more than three times in a year. In this case, the outstanding amount will be added to the new loan.
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