Project Loan
NKABOM CCU
Project Loan
Project loan is another major benefit for all members of the co-operative. We believe in supporting the co-operative’s members to acquire property as a result of their consistent saving with the co-operative. This will be achieved by granting project loan to our cherished members to finance their dream project including acquisition of Car, Building and Land as well as church building.
- Member enjoys the lowest interest rate per month as per the standard of co-operative credit union
- Repayment of the loan is in either daily or weekly subject to the convenience of the member
- Loan term is 12-18 months
- Loan is granted within 72 hours (3 days) of application
Conditions/package
i. A member will complete an application form at a prescribe fee
ii. A member must be a susu/savings account holder
iii. A member must maintain the account for at least Six (6) months
iv. A member will enjoy loan in a multiple of three (3x) of savings account balance at a cap of GH¢50,000.00
v. A member’s Susu/saving account balance serves as cash collateral and this collateral cannot be withdrawn until the final repayment of the loan amount.
vi. Applicant provides 2 members of the co-operative as guarantors
vii. Applicant must provide a landed property with a supporting document (title document and statutory declaration) as collateral which value is more than twice the loan applying for.
viii. Applicant will be surcharge a processing fee of the loan amount
ix. Approval of project loan is subject to the approval of the Executive Board
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We boast of over 1000 memberships within a three month space of operation and the growth rate keeps counting.