Ab Initio Loan

Financial support for member with abnitio, tailored to help them get started and meet their immediate needs.

• This loan is given only to members with Ab Initio Loan.
• The loan is given four times the members deposits and is payable within a maximum period of 48 months or as may be approved by the Board from time to time.
• Interest charged will be 1% per month on reducing balance or as may be proposed and approved by the Board from time to time.
• A member shall qualify for only one Ab Initio loan at a time.
• A member shall be granted up to his/her entitlement i.e. total loans shall not be more than four times (4) the members total deposits, subject to the two thirds rule.