Ordinarily after six months of membership a member qualifies for loans up to four times his or her savings. The interest rate is 1% per month on the reducing balance and the maximum repayment period is ten years. Loans are available for purposes such as the member’s and their children’s education, medical purposes, debt consolidation, mortgage arrears, starting a small business and for other provident and productive purposes.
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Members may also borrow sums lower than their savings balance. Members do this when they have a savings goal and avoid withdrawals. The interest rate on this loan is lower than the interest rates on loans above shares by 5% per annum.