Loan Facilities

Instant loan
So mum has called and you need to send the money before sunset?! Well, why not. Send her the money!
In fact, with our Instant Loan product, you can leave your Sister’s   wedding on, come over and pick a loan form, apply for the loan, buy your wedding gift and arrive back at the wedding before the pastor declares them ‘man and wife!’
Our instant loan is disbursed immediately your guarantor signs the loan form.

Features:
It is repayable in 3 months from the date of disbursement.
Applicable interest rate is 10% p.m. on reducing balance.
Only one Instant loan can be advanced at a time.

Emergency loan
This is a product that enables members to take care of unforeseen financial needs but with a longer repayment period and at an unbelievably low interest rate.

Features:
It is repayable in 12 months from the date of disbursement.
Applicable interest rate is 1% P.m on reducing balance.
Maximum loan limit is a member’s deposits x 3, subject to ability to repay.
Only one emergency loan can be advanced at a time.

Product loan
So you accidentally dropped your phone and broke the screen?! No problem.
The product loan enables you to acquire a new phone or any product of your choice, at whatever cost within 3 days.
And you have your full say on how you want the acquisition handles; you can ask us to buy you the product from the most authentic dealer or give you the cash and have you buy it yourself from your preferred dealer!

Features:
It is repayable in 12 months from the date of disbursement.
Applicable interest rate is 10% on straight line.
Maximum loan limit is a member’s deposits x 3, subject to ability to repay.
Only one product loan can be advanced at a time.

School Fees Loan
This is an educational loan product mostly suitable for high school and primary/pre-primary financial needs.
Its comfortable interest rates and the 12 month repayment period which falls snugly within the academic year in most countries, ensure the family does not sacrifice their bread in order to pay School fees. 

Features:
It is repayable in 12 months from January of any year.
The repayment must end in the month of December of the year under review.
Applicable interest rate is 1% p.m. on reducing balance.
Maximum loan limit is a member’s deposits x 3, subject to ability to repay.
Only one School Fees loan can be advanced at a time.

College Fees Loan
This is an educational loan product tailor-made for the financial needs of tertiary education.
The 2 year repayment period ensures the member has a more relaxed repayment schedule to ensure their normal lives and development activities are not disrupted even as they pursue higher education.

Features:
It is repayable in 24 months from the date of disbursement.
Applicable interest rate is 1.25% p.m on reducing balance.
Maximum loan limit is a member’s deposits x 3, subject to ability to repay.
Only one College Fees loan can be advanced at a time.

Normal loan
This is a self-improvement loan product advanced to enable members engage in income generating activities as a way out of dependency on the paycheck.
The normal loan is most famous for the opportunity it gives the member to re-finance even before completing repayment.
This enables the member to expand operations without having t o apply for a new or a different type of loan for that purpose.

Features:
It is repayable in 36 months from the date of disbursement.
Applicable interest rate is 1.25% p.m on reducing balance.
Maximum loan limit is a member’s deposits x 3, subject to ability to repay.
A member can apply to re-finance the normal loan within 12 months from the date heshe applied for the normal loan.
Repayment of the refinance loan must end in the same month the normal loan was scheduled to end.
Only one normal loan can be advanced at a time.

Project loan
Just as the name suggests, this is the loan that buys you that car or builds you the family house.
The long repayment period ensures you can apply for a large amount of money but still manage the repayment with ease.
Besides, the friendly interest rate (compared to what competitors are charging for long term loans) is Tramom’s special way of rewarding loyalty. 

Features:
It is repayable in 48 months from the date of disbursement.
Applicable interest rate is 1.25% p.m on reducing balance.
Maximum loan limit is a member’s deposits x 3, subject to ability to repay.
Only one Project loan can be advanced at a time.