This loan product was designed to give members peace of mind in accessing a loan that is 100% secured by their account balance(s) with the Society. This loan can be accessed for any general purpose. A lower interest rate is charged on this loan facility.
“Get Emergency Cash, and keep your goals on track. Pay your bills, keep those creditors off your back!”
Why a TIP Express Loan?
- Access up to 95% of your total savings balance
- Quick Approval
- Must be a consistent financial member for at least six (6) months
- For loan eligibility, a TIP for Life Plan is a prerequisite
- Members must be employed in the field of education
- Must be between 18 and 55 years old
- All loan repayments must be made by salary deduction
- Loans are granted at six (6) months intervals
- Upon applying for the loan, the member must produce their last two (2) months pay slips and a valid photo identification (Passport, Driver’s Licence or National ID).
- The member can borrow up to 95% of their total account balance(s)
- Interest rate is calculated monthly on the reducing balance
- Withdrawals will only be guaranteed in excess of your account balance, if your total loan balances is 100% covered by your account balance.