Use of collateral as security

Members can use their assets as security for their loans.

The administration will be as follows:

Product Name: Collateral loan

Maximum Amount: Based on the loan category and the member's 2/3rd eligibility

Repayment Period: 84 months

Interest Charged: 1.334% per month on reducing balance

Collateral: Assets to consider are car log book and land title deed

Incidental cost: All incidental costs are borne by the loan applicant before the loan is processed

 

Thank You.