Normal Loan

Normal Loan

The loan is meant to assist members who need to undertake development projects

This is a major loan for purposes such as land purchasing, house purchase/building, car purchase etc

The loan facility is processed and disbursed once monthly

Features

• A member is given 3 times his/her deposits or the ability to pay
• These are loans repayable at a longer period from 36 months
• Member must have contributed shares for at least six months
• Waiting period not less than 30 working days subject to availability of funds
• Not less than three guarantors subject to amount

Requirements

• Pre-printed application forms
• Copies of Identification Document used in the member registration,
• Most current original pay slips for salaried members
• Identification copies of the guarantors
• Guarantors’ original pay slips if any