Need a boost? Top up your Business development or Land/Property loan with us.
This loan is designed to offer additional financing for members who took a Development loan but ran out of money before completing the project.
Requirements & Features
1. Member must have demonstrated consistent repayment with the current loan(s).
2. Member must have repaid at least 75% of their current loan.
3. A defaulter will not qualify for the loan.
4. Member will need to provide collateral or guarantor ship to qualify for the loan.
5. Total loan amount for the two loans must not exceed four times (x4) the Main savings account contributions.
6. A member can pay lump sum money for the purpose of borrowing. Such an amount must have been in the account for at least 3 months before they can borrow against it.
7. The cost of valuation and administration fee will be catered by the member and will be deducted from the new loan.
8. A non-refundable processing fee of 1% of the new loan amount shall be paid or be recovered from the new loan.