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From our competitive rates on loans to our aggressive stance on savings, we are sure you can find something to suit your needs.

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Loan Criteria

Loans granted for provident and productive purposes to eligible members, are categorized as Share or Character Loans and are subject to normal lending criteria.

There are 5Cs used to determine the feasibility of a loan:

  • C - Character: How regularly you pay.
  • C - Capacity: Your ability to repay a loan.
  • C - Capital: What you can invest, the value of your share holding.
  • C - Collateral: Other property that can be offered as security for a loan.
  • C - Condition: Rate of interest and period of repayment.

How is interest calculated?

Our Loan interest is calculated using the following methods:

Reducing Balance Method - means as the loan principal decreases so does the interest as it is calculated as a percentage of the loan balance each month.

Add On Method - means the interest is calculated for the life of the loan and added to the loan principal before the installment is calculated. This interest is a fixed amount each month for the life of the loan.