Regular Loan

Regular Loan

+ Types of Loan

 

Personal Loan Personal loans are the loans provided to meet individual needs such as debt consolidation, wedding expenses, vacation, etc.

Education Loan Education loans are provided to meet the expenses involved in education such as payment of tuition fees, book fees and living expenses.

Business Loan Business loans are provided for business purposes. They are provided for the development of an existing business, to set up a new company, to acquire raw materials and so on.

Agricultural Loan This type of loan is provided for the benefit of farmers to improve the agriculture activity in their farmlands.  The common agriculture loans are provided

To purchase farm lands

To purchase farm machinery such as tractors, harvesters, etc.

To buy cattle

Crop loans

 

Vehicle Loan Vehicle loans are provided for buying new cars, two wheelers as well as used and refurbished vehicles. This loan is very useful for those who have a strong desire to own a vehicle and for all those who are seeking flexible transportation means.


+ Available Loan Facilities

 

Short Term Loan

Up to 200 per cent of your current savings with the Cooperative.

Repayment plan within 10 months.

5 per cent interest (a loan of N1 million for example attracts a total interest of just N50,000)

No hidden charges

 

Medium Term Loan

Up to 200 per cent of your current savings with the Cooperative.

Repayment plan within 11 to 20 months.

6 per cent interest (a loan of N1 million for example attracts a total interest of just N60,000)

No hidden charges

 

Long Term Loan

Up to 200 per cent of your current savings with the Cooperative.

Repayment plan within 21 to 30 months.

10 per cent interest (a loan of N1 million for example attracts a total interest of just N100,000)

No hidden charges

 

+ How to Apply

 

Apply Online

Login to the Member Service Portal (E-Coop Portal) using your secure username and password

Fill the online application form

Submit the form online.

Call the member care line to verify receipt of your application and updates on its status

Loan Application Form

Download the loan application form.

Fill and sign the application form as appropriate.

Send the hardcopy of the filled form to the Cooperative office.

Call the member care line to verify receipt of your application and updates on its status.