Purpose:

Development loans address the development needs of members e.g. to acquire property and other assets, start or boost business, undertake large scale farming, motor vehicle purchase among others.

Features:

1. A member can access only one development loan at a time
2. Repayment period shall not exceed 36 months.
3. Interest rate chargeable shall be 12%.
4. Maximum entitlement shall be 3 times of total deposits and Shares
5. Security options: Guarantors’ deposits, member deposits