CATEGORY 1 – SHORT TERM LOANS
Target: employees in the private sector
Repayment period: 1 to 12 months
Loan Products:
- Short term Loan – generic
- 7% loan processing fee
- 3% per month interest calculated on loan balance
- Maximum loan Amount is 200% of a member’s share value
- Emergency Loan
- 7% loan processing fee
- 3% per month interest calculated on loan balance
- Maximum loan Amount is one third of a member’s share value
- Pompo-Pompo Loan
- Zero costs on loan processing fees
- Processed within 24hours of submitting the loan application form
- I month duration
- 15% interest on the applied amount
CATEGORY 2 – LONG TERM LOANS
Target: employees in the private sector
Repayment period: Up to 24 months
Loan Products:
- Long term Loan – generic
- 7% loan processing fee
- 3% per month interest calculated on loan balance
- Maximum loan Amount is 200% of a member’s share value
- Employer Guarantee Loan
- Requires clearance from the member’s employer
- 3% per month interest calculated on loan balance
- Disbursed amount based on member’s assessed capacity to repay
CATEGORY 3 – CIVIL SERVANT LOANS
Target: Employees in the civil service
Loan Products:
- Civil Servant Loan – generic
- Repayment period of up to 24 months
- Maximum loan Amount is 400% of a member’s share value
- Takulandirani Loan
- An instant loan for new members
- No share balance required as long as the new member has the capacity to repay
- Repayment period of up to 6 months
- 3% per month interest calculated on loan balance
- Thandizo Loan
- A quick loan facility for emergencies
- Processed within 24hours of submitting the loan application form
- Repayment period of up to 6 months
CATEGORY 4 – PURPOSE BASED LOANS
Target: Employees in the private sector
Loan Products:
- Development Loan
- Suitable for asset acquisition and personal development
- Repayment period of up to 24 months
- Maximum loan Amount is 400% of a member’s share value
- 3% per month interest calculated on loan balance
- Agricultural Loan
- Disbursed for farming activities and inputs
- No share balance required as long as the new member has the capacity to repay
- Repayment period of up to 6 months
- 3% per month interest calculated on loan balance
- School Fees Loan
- A quick loan facility for emergencies
- Processed within 24hours of submitting the loan application form
- Repayment period of up to 6 months
