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.
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.