Development loans
Purpose
The Normal Loan is designed to address
the development needs such as Building homes, Large scale farming, Motor
vehicle purchase among others.
Features
- The maximum amount one can borrow is 3 * Deposits.
- The repayment period shall be a maximum of 36 months subject to contract period.
- The loan shall attract interest rate of 1% per month on a reducing balance basis.
- The Security shall be the member’s and guarantors’ deposits.