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  ( This compulsory savings can only be withdrawn when the loan is settled or the loan is less than the shares.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