Re – Financing Loan

• An addition to the normal loan.
• Normal Loan can be refinanced twice subject to ability to repay and within 3 times deposit multiplier.
• Interest charged: – 1% p.m. on a reducing balance.
• Repayment period: – period remaining from the time the original normal loan was granted.
• Loan security accepted: Guarantors, title deed, log book

External Lumpsum Deposits Waiting Periods

A member who wishes to top up a lump sum amount to their member deposits  account with the intention of borrowing a loan will be subject to the following waiting periods:

500,000 and belowZero waiting period
500,001 to 2 Million30 days
Above 2 Million60 days

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