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.
