CH Cooperative Loan

January 16, 2018 Dada-Stephen 8 comments

We have been getting lots of queries through our customer care agents in line with loan requirements and procedure. This post will help do justice to that.

Loan facilities can only be given to an active member of the CH Cooperative society, who is not defaulting at any point. This implies that you must be registered with the cooperative society online with your profile adequately filled and because we are a cooperative society, you will have to save with us on monthly basis as well as pay your monthly dues as a member.

How Do We Get Finance To Issue To You As Loan?

  • Through the monthly savings of other members like you
  • Through Loans From Other Financial Institutions such as : Central Bank Of Nigeria, Bank Of Industry, Bank Of Agriculture and Others.

This is to show you that we also have to repay these monies. The essence of this cooperative society is to be able to facilitate easier access to fund for business minded youths and women. To request for a loan, you will need two guarantors who are members of the CH cooperative and one non CH cooperative guarantor. We have monitoring teams nationwide whose responsibility is to verify the information provided by you as it will be part of the points of consideration during your loan application processing. Security might be required for loans above N 500,000.

LOAN DURATION AND INTEREST RATES

N 150,000 and below {6 months} 5%

N 200,000 – N 600,000 {12 months} 8%

N 800,000 – N 2,000,000 {24 months} 10%

N 5,000,000 – N 10,000,000 {48 months} 15%

We are currently working on collaborations with debt management organisations to further effect debt tracking measures. With debt management offices in the picture, it will be difficult for a debtor to abscond with monies owed.

8 Comments on “CH Cooperative Loan

    1. Thanks for the question. It will be displayed on your dashboard as a registered member. You will decide how much to pay monthly as savings.

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