Development Loan:
This is a medium-term loan intended to empower members to undertake investment activities and address development needs.
Product features:
- Repayable in 48 months
- Only one development loan can be granted at a time
- Maximum limit is a members’ deposits x 4 (subject to 1/3 salary rule)
- Attracts 5% processing fee on approved amount
- Recovery is done at a monthly flat rate combining principle repayment with