No customer will be allowed to withdraw or touch his/her savings after full repayment of the loan till the end of the year no matter the condition.
Compulsory savings is a term that all customers must adhere to and any customer who refuses to pay his/her savings will be disqualified for the next loan application.
The collection time is from 8am to 12:00pm daily.
There is no room for default as any default attracts N500.00 per day Paid immediately or deducted from the client savings.
Every eligible customer must provide Two (2) Surety who are not related to the applicant and if such will be presented, he/she must present a postdated Cheque of the said amount and /or the Surety if a business person will use his/her goods as Surety for the Loan applied for by the applicant.
On no condition should any customer use another person to obtain a loan and if discovered, the applicant will be held responsible for the loan repayment, since it is done under pretence. The applicant must provide one copy of their spouse’s passport.
Any Customer who fails to complete payment as at when due will be charged 20% of the total outstanding balance.
Any customer who wants to liquidate his/her savings must submit the card to the office, for the proper liquidation process after (3) days to ensure the customer collects their savings.
Customers will only be allowed to use savings to clear/close the outstanding loan if the Customer wants to finally close his/her account.
Any customer who cleared or collected his/her savings and came back within a short period of time for a loan will pay back the savings before he/she will be given another loan.
This is to inform the applicant, that regardless of his/her personal circumstance the loan MUST be paid
