Loan Products

Overdraft loan

This loan allows quick access to a small amount of money

Granted in 24 hours
Applicable to members with atleast 3 months of membership
It does not exceed 500 thousands
Repayable in 3 months
Monthly repayment equals to 15% of the salary when combined with Emergency Loan and 80% with Ordinary Loan
Interest rate is 5%

Documents you need while applying

Learn how to apply for a loan here

Apply via the Web Portal

This is granted for unforeseen circumstances such as natural disasters, funeral expenses, etc.

Granted in 2 weeks
Applicable to members with atleast 6 months of membership
It does not exceed the amount of individual member’s savings
Repayable in 12 months and covered by the permanent savings
Monthly repayment equals to 25% of the salary and 50% when combined with any existing commitment
To be renewed, it does not require the member to have paid up to a half of the facility
Interest rate is 8% per annum

Documents you need while applying

Learn how to apply for a loan here

Apply via the Web Portal

This is granted for individual members who channel their savings in HSS-MAG

Granted in 2 weeks
Applicable to members with atleast 6 months of membership
It does not exceed the double amount of individual member’s savings
Repayable in 36 months
Monthly repayment equals to 50% of the net salary and 75% when combined with Emergency Loan
It can be renewed when the member has paid up to a half and the loan given can clear the outstanding
Interest rate is 5% per annum

Documents you need while applying

Learn how to apply for a loan here

Apply via the Web Portal