Services

Savings Secured Loan

A Savings Secured Loan is provided based on periodic savings, regular savings, or other savings deposited for a fixed period within the institution, using those savings or other members' savings as collateral.

Loan Limit:

• Generally, the loan amount will not exceed 90% of the savings held as collateral, and up to 10% of the primary capital fund can be granted.

Loan Tenure:

• The loan tenure for periodic savings will align with the duration of the periodic savings, while for other savings, the tenure will be determined based on mutual agreement, ensuring it does not exceed the maximum loan limit.

Grace Period:

• No grace period will be provided for this type of loan.

Repayment Method:

• For loans secured by periodic savings, repayment can be made either in installments or as a lump sum.
• For loans secured by other savings, repayments must be made in mandatory monthly or quarterly installments.