50% Cash Plus
This is a special facility for clients who are already having their savings with us and need more than what they have in their savings account. With this type of loan, clients are allowed to request a loan amount above (50%) of their savings balance.
FEATURES
- The loan is applied and approved the same day.
- The client must save and run the account for a minimum of 6 months.
- The minimum loan amount must be GH¢ 500.00.
- Loans terminated before maturity attracts one-month additional interest
- plus, outstanding principal.
- Loan Duration: 1 – 3-months
- Loan Repayment Frequency: weekly / bi-weekly
- Grace Period: Depends on loan repayment frequency
- Application Form: – GH¢ 5.00
- Interest rate: – 4.5%
- Lien: – 100% Savings
- LPF: – 0%
- Processing fee – 0%
- Loan default penalty – 0.25% daily
Special Note:
- All loan amounts of GHC10,000 shall come with valid collateral
- The base of charge for the interest rate for credit products are:
- The cost of funds
- Inflation rate
- Operational cost