Loans are granted to members for productive and provident purposes. Members who have saved for Six (6) months or more with KAMCCU may be granted Loans within or above savings. The maximum loans that can be granted to a member is twice member's Savings. Maximum loan repayment period is Three (3) years.
🔔 Feeds:
Ghana’s N0.1 Credit Union – Trusted for Loans, Savings, Shares & Fast Money Transfers. Empowering Your Financial Future Every Step of the Way.
Flexible Loan Solutions
Need extra funds? Our flexible loans come with low rates, easy terms,
and quick approval—helping you move forward with confidence.
Purpose of Loan
Lets make life easier with a flexible loans grants
Provident
Food, school fees, weddings, funerals, housing, transport, others.
Productive
Agricultural Purposes; Fertilizer, livestock/poultry, farming equipment etc
Business
Tailoring, maize mill, business capital, liquidity support, others
Members can obtain Loan application forms from the office, complete and return same with a valid ID card (Voter's ID, Drivers License, National Identification card, Passport).
Loans above member's savings must be vetted by the Loans Committee, which meets weekly to consider Loans and approve or disapprove or defer. Members applying for
Loans from Seven Thousand Ghana Cedis (GHS 7,000.00) and above must meet the Committee personally for further verification before approval is given.
Loans are insured by the borrower with the Credit Union against the risk of Death and Permanent disability under the Credit Unions Loan Protection Plan (LPP).
The entire loan is covered over the repayment period. Whatever that has been re-paid by the borrower at the time of the risk
becomes a benefit to the member in time of Permanent disability or to the next of kin after death of a member.
Interest Rates
Interest charged on Loans is 3% per month reducing balance method which makes up to 19.5% per annum or 2% per month for loans within savings.
Example, when a member takes GHS 1,000.00 he/she will pay an interest of GHS 195.00 over a repayment period of 12 months to be repaid monthly.
