MSP Weekly Loan
This is a loan disbursed to individual members of a group with repayment tenure of 40 weeks. Interest rate 15% with one week moratorium.
Terms and Conditions:
- Tenor/Duration: 40weeks Repayment: Weekly
- Service Charge: 15%
- Savings: 10%- 35% of loan amount
- Disbursement Fee: 1% flat payable upfront
- Group Formation: Minimum of 10, maximum of 30 members
- 2 passport photographs/Upload on System and specify the gender
- Health Insurance, compulsory for N200,000 and above, optional for N50,000- N150,000.
- One external guarantor and 6 guarantors within the group must be providedt
- Minimum of 2weeks waiting period
- One week moratorium