When a member uses the balance in his Shares, Fixed Deposit or Retirement Account as collateral for a loan it is called a character loan. This type of loan allows the member to borrow needed funds while still earning dividends and/or interest on his investment. As the loan balance declines, the secured funds become available.  Loan can be granted within one-working day if shares balance is more than loan balance.

LOAN AMOUNT
Minimum – $500.00
Maximum  – $400,000.00

INTEREST RATE
1% orb

COLLATERAL
Shares are the main collateral security.

FEATURES
Qualification is based on ratio of shares.
Loan can be granted within 24 hours if shares balance is more than loan balance.

DOCUMENTATION
Applicants may be required to provide documentation in support of loan applications.

TERM
6 months – 12 years

REFINANCING
Loan can be refinanced at any time.

PREPAYMENT PENALTY
Five (5) months interest.