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FAHARI LOAN

Fahari Loan

 

  1. Purpose of loan
  • Long term loan meant for Members who have saved over 1 Million Share Deposits consistently.

 

  1. Maximum Amount
  • Deposits multiplied by 4
  • Maximum 10,000,000
  1. Maximum period
  • 60 Months

 

  1. Loan Security
  • At least Seven guarantors whose deposits adequately cover the loan applied or acceptable collateral.

 

  1. Other Conditions
  • Loan deduction through member salary.
  • 10% Interest on loan Top up.
  • Loan approved once a month.
  • 0.75% Insurance fee.
  1. Interest rate
  • 1% per Month (12% P.A) on reducing balance.