This product is applicable to all members who have immediate needs for school fees. The member should present a fees bill. The minimum loan is 100.000/= while the maximum is 15.000.000=. The interest rate is 2.8% per month and the minimum loan period is 3 months for primary and secondary education while 6 months for tertiary education. The loan is repaid in equal monthly instalments on reducing balance basis.
It is attached to shares at a ratio of 1:10/=
There is no Grace period for this loan product.
