The Health Loan is specifically designed to provide clients with a convenient and accessible means to address their healthcare needs without adversely impacting their business operations. This loan is exclusively intended for health-related expenses and is not to be utilized for business purposes. It ensures that clients can prioritize their well-being while maintaining financial stability.
Key Features:
- Interest Rate: 54% per annum (flat rate), equivalent to 4.5% per month.
- Repayment Frequency: Monthly repayments.
- Loan Facility Range: ₦20,000 (minimum) to ₦100,000 (maximum).
- Methodology: Available for both group and individual borrowers.
- Loan Duration: Flexible repayment period of 1 to 3 months (or 12 weeks).
- Grace Period: 1-month grace period before repayments begin.
- Client Contribution: Clients are required to contribute 40% of the total loan amount.
- Disbursement: 60% of the loan amount will be disbursed to the client.
Eligibility:
This loan is accessible to clients who are members of a recognized group or union. The Health Loan aims to support individuals in managing their healthcare expenses effectively, ensuring their financial and personal well-being.
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