Development Loan
Development Loan is intended to empower members undertake development projects with long term benefits e.g. Construction, Prospecting land, Business ventures and other investments.
Benefits
Development Loan offers the following benefits to the members.
- Manageable repayment amounts.
- Longer repayment period.
- Interest is on a reducing balance.
Repayment Period of Up to 60 Months
Terms
Development Loans are issued under the following Terms and Conditions.
- Maximum 3 times Total Deposits
- interest rate is 12% p.a on reducing balance.
- Must be a member for atleast 6 Months
- Self Guarantee is Allowed.
.