Development loan

Conditions

1. Pegged on three times of the borrower’s normal shares
2. This loan is repaid up to a maximum period of 48 months
3. The society charges an interest of 1% per month on a reducing balance
4. No ceiling on the amount on for a loan
5. Loan application must be supported by the member’s latest two (2) payslips.
6. The loan must be fully secured by at least two (2) guarantors
7. Processing fee of 0.4% shall be charged on the loan applied.