Types of Loans

We have a variety of loan products which meets our members needs.

  • Emergency Loan
  • Education Loan
  • Road Tax/ Car Insurance Loan
  • Ordinary Loan
  • Commodity Loan
  • Health Care Loan
  • Home Improvement Loan
  • Rental Solution Loan
  • Home Grocery Loan
  • Asset Loan

Terms and Conditions for Loans

  • All members are eligible to get loans upon saving with the SACCO for at least two (2) months.
  • The maximum loan amount shall be twice one`s savings or up to K50, 000 depending on the applicants membership category.
  • Loan interest shall be calculated using straight-line method.
  • Interest on loans shall be charged at 6.5% per month
  • Loan repayment period shall range between one (1) to six (6) months.
  • Loan repayments shall be by bank transfer, standing order, bank deposit or mobile money.
  • Loan security shall either be a guarantor or postdated cheques (Guarantors can only be saving members of the cooperative).
  • Applicant can have up to a maximum of four (4) guarantors).
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Plot 10495, Manchinchi Road, New Olympia, Lusaka, Zambia

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