MICROFINANCE / GROUP LOAN
It is made up of group of people numbering from about 25 to 30 people. The customers contribute towards their guaranteed fund at educational meetings held by the microfinance officer.
They make these contribution to prove their consistency and ability to repay when the loan facility is granted.
Features and benefits
- There is no need for a guarantor
- Customers guarantee for each other, they are therefore jointly and severally liable in case of default on the part of one member.
- Customer have the free will to form their own group and also to choose their group members
- The group can reject a member if he/she is found to be unfit to be a member.
- Repayment are made every fortnight
- SALARY LOAN
- COMMERCIAL LOAN
- SUSU LOAN
- MICROFINANCE/GROUP LOAN
- SALARY OVERDRAFT
- COMMERCIAL OVERDRAFT
- SCHEME LOAN
- CONSUMER FINANCE LOAN
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The Afram Rural Bank / AC Bank limited was incorporated as a company limited by shares on November 12th, 1981 under... Read More
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