Salary Multiplier Loan

Members can obtain this loan up to three (3)  times their monthly net salary.

Terms and Conditions

  • Only Salaried workers are qualified
  • The maximum amount to any one member is Two Hundred and Fifty Thouand Dollars ($250,000.00)
  • Loan to be three (3) times the borrower’s net salary as evidenced by pay slip or other verifiable document.
  • Net Salary should be deposited to shares account and held as equity and collateral.  (NB: No additional collateral required)
  • Repayment should be made via Salary Deduction
  • Members are required to save in shares a minimum of 5 to 10% of monthly loan repayment.  ( This compulsory savings can only be withdrawn when the loan is settled or the loan is less than the shares.

Documents required for loans

  • Valid identification (passport, drivers license, national ID)
  • TRN
  • 2 passport size photograph certified by Justice of the Peace
  • Letter of employment
  • The last 3 pay slips

*Conditions apply