Loan Structure

This comprises of Normal loan,Business loan, Emergency Loan, and other types of Loan...

The society offers to its members the following classes of loans:

a.    Normal loan:This is a regular loan offer by the society to its members. Members are entitled to 200% of their balance savings with the society for a maximum of at least 18 months tenure, interest rate of 8.5% for normal loan of N1 - N200,000 for a tenure of 12 months, 12% for normal loan of  N1 - N200,000  for a tenure of 18 months and 12% for  N201,000 - N300,000 irrespective of the duration for maximum of 18 months.
{ You may click here for the normal loan application form}

b.   Business loan: This is a business loan of up to N1.5M offers by the society to its members. Members are entitled to 200% of their balance savings with the society for a duration of 12 months tenure at interest rate of 12% (all business loan are for a maximum duration of 12 months) 


c.    Home Ownership/Motor Vehicle Scheme: This is in view to be discussed and approved at the AGM at a maximum interest rate of 20% per annual for a duration of 3 years to the maximum of N2M and this is subject to ratification at the AGM.

      Terms and Conditions according to the bye law applies.