This is a loan product given to members who are in need of huge amount of loan yet their pay- slip cannot allow repayment of loan and interest done separately.i.e the principal repayment and interest are deducted as one lump sum figure in the pay slip.
Terms and conditions.
- Maximum repayment period is seventy two (72) months.
- The Loan is given up to x10 of one’s shares
- Given instantly to the qualifying members.
- The repayment is added to interest and paid as a constant figure.
- Minimum of three guarantors are required.
- The deposits contribution of both the borrower and the guarantors shall be equal or more than the loan so given