Chama Loans

  • The loan is granted for income generating activities of the Chama and repaid within a maximum period of 60 months. 
  • Interest charged at 1% per month on a reducing balance method. 
  • Granted at 3 times the deposits
  • Loan application must be supported by at least a 6 months certified bank statement, a projected cash flow statement for the duration of the loan repayment and a resolution of the members, including their personal guarantees. 
  • Loan can be secured by either guarantors or clean title deeds, motor vehicles or any other acceptable collateral assets by the chama.