Susu-Personal Loan
NKABOM CCU
Susu/Personal Loan
The Susu/Savings loan is one major benefit for all members of the co-operative that maintains a susu/savings account.
- Member enjoys the lowest interest rate per month on reducing balance 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 is granted within 24 hours of application
Conditions/package
i. A member will complete an application form at a prescribed fee
ii. A member must be a susu/savings account holder
iii. A member must maintain the account for at least three (3) months
iv. A member will enjoy loan up to twice of saving for the first time and in a multiple of three times (3x) subsequently, of susu account balance at a cap determinable by the Executive Board
v. A member’s Susu account balance serves as cash collateral and this collateral cannot be withdrawn until the final repayment of the loan amount.
vi. Applicant will be surcharge a processing fee of determined by the board and the loans committee
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