Long-Term Loans
LTL
- Category: LOANS
- Interest: 1.5 per month
- Interest Type: FLAT
- Total Interest: 18% per annum
Detailed information of the product
Long-Term Loans shall be provided within the limits of the total savings of the member at the time of applying for the loan.
The loan interest rate shall be 1.5% per month on flat rate model.
The loan amount shall be a maximum of two (2) times members savings.
The loan shall be secured with another Members savings as guarantee or collateral.
It is also designed for first-time borrowers of the Society.