Premium Loan
We understand that every financial journey is different. That’s why we offer premium loans that are designed to meet the specific needs of individuals and businesses looking for flexible, personalized financing options. Whether you’re planning a major investment, expanding your business, or consolidating debt, our premium loan products offer the perfect solution with competitive rates and terms.
Loan Requirements
✅ 10% interest if it's equal to the sum of all deposits (regular savings, time deposit and premium deposit). Diminishing annual balance.
✅ 12% interest applies if the loan amount is twice (2x) the total of all deposits, excluding fixed deposits or share capital. Diminishing annual balance.
✅ Maximum term is 60 months
-
What is the loan limit?
The loan limit depends on the member's accumulated premium or shares and the cooperative's policies. Typically, it is a percentage of the member’s contributions.
-
Can the loan be used for any purpose?
Yes, the loan can typically be used for personal or business-related purposes, depending on the cooperative's rules.
-
Can I pay off the loan early?
Yes, early repayment is allowed. Some cooperatives may offer discounts on interest if the loan is paid off before the agreed term.
