RECEMPCO > Regular Loan

Regular Loan

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LOAN FORM
AUTHORIZATION FORM
INSURANCE AGREEMENT
UNDERTAKING OF NO PENDING CASE
MEMBERSHIP FORM

0912-48001174 | 0912-6858775

Mon-Fri (8:30am-5:30pm); Sat (8:00am-3:00pm)

Regular Loan

We recognize that financial flexibility plays a crucial role in both your personal and business life. That’s why our Regular Loan options are tailored to provide the support you need to reach your financial goals. Whether you’re looking to simplify your finances by consolidating debt, make a significant investment in a major purchase, or secure funds to invest in your future, we are here to help you navigate these important decisions with ease and confidence. Our goal is to ensure you have access to the financial resources necessary to move forward and thrive.

Loan Requirements

• Equity requirement: 10% of the loanable amount
(Cash out by the borrower)
• Interest rate: 12% per annum-diminishing monthly
• 2% Service Fee
• Loanable Amount/ Term
- 30,000 below /12 months
- 31,000 to 60,000/24 months
- 61,000 to 100,000/36 months
- 101,000 to 200,000/48 months
- 201,000 to 300,000/54 months
- 301,000 to 600,000/60 months
- 601,000 up to Maximum of 1 Million/72 months

  • Yes, regular loans can generally be used for personal or business purposes, unless otherwise specified by the cooperative's loan policy.

  • Yes, but it depends on your current loan balance and payment history. Some cooperatives have rules regarding multiple loan applications for members with existing loans.

  • Repayment can be made via regular deductions from the member's account, salary deductions, or other agreed methods.