Emergency Loans:
These loans essentially help members meet emergency financial needs such as hospitalization, bills that may fall due suddenly and unforeseen circumstances.
Product features:
- Repayable in 24 months
- Only one emergency loan can be granted at a time
- Emergency loans are given within a member’s entitlement
- Maximum limit is a members’ deposits x 5 (subject to 1/3 salary rule and ability to repay within twenty-four months)
- Principle loan repayment is done separately from interest
