Our loans represent some of the best value in the market. Our loans have reasonable interest rates, repayment terms to suit your particular circumstances, you can repay the loan earlier with no penalty, additional lump sum repayments accepted with no penalty and flexibility to make larger repayments than agreed with no penalty.
We look forward to say "yes" to your loan application with the following loan products tailored to suite your needs;
A member loan is a type given to members who have saved for at least six months. The amount of money a member can access depends on his or her savings balance.
The interest rate chargeable on this Loan will be 3% per month on reducing balance.
The borrower will also be charged a processing fee of 60 pesewas on the Loan.
In the group loan, because the maximum amount a person can take is GH¢ 3,500.00 the members within the group serve as a guarantee for each other.
NORMAL (NON-GROUP) LOANApplicant will be required to secure Loan Application with landed property, whose fire sale value is more than the loan. Other requirement maybe, previous three months Bank Statement and /or the business plan showing the cash-in-flow of the business.
The loan will have to be repaid within 24 months period.
A member loan is a type given to members who have saved for at least six months and need money for solve some pressing issue without going into his savings. The amount of money a member can access should be less than his or her savings balance.
The interest rate chargeable on this Loan will be 1.5% per month on reducing balance.
The borrower will also be charged a processing fee of 60 pesewas on the Loan.
No collateral is needed for this type of loan
The loan will have to be repaid within 6 months period.
As an extension of the New Member Emergency Loan, special Loans may be granted for the clearing of goods at the port the repayment will be 3 months.
In such a case, its payment will be made directly to either CEPS or ARCCU registered Clearing Agent.
Members should be encouraged to save for their children’s education. This will enable them to access Educational Loans for their Children and wards.
The Loan will be equivalent to the cost of School items and the School Fees. The fees will be paid directly to the School.
The Admission Form and the bill of the fees should be attached to the Loan Application Form.
The interest rate on the Educational Loan will be the normal interest rate of 3% per month.
This will help the members to re-assess the facilities after each term of semester.
The maximum Loan will be GH¢50,000.00
The interest rate chargeable will be 5% per month.
There will be a charge of 0.5% of the funds for processing fee.
The Loan will have to be paid within 6 months period
The maximum allotted for this product is GH¢100,000.00
The interest rate chargeable on this Loan will be 6% per month.
The borrower will also be charged a processing fee of 0.5% on the Loan.
Applicant will be required to secure Loan Application with landed property, whose fire sale value is more than the loan.
Other requirement maybe, previous three months Bank Statement and /or the business plan showing the cash-in-flow of the business.
The loan will have to be repaid within 3 months period.
There shall be a Funeral Loan to members. The repayment will be 1 month after the Funeral with an interest rate of 3% per month.