| LOAN PRODUCTS | ||||||
|---|---|---|---|---|---|---|
| Loan Product | Interest Rate (Flat rate) | Maximum Amount | Maximum Tenure | Savings Rule | Collateral | Repayment Method |
| (i) Ordinary Loan | 3% per month | K50,000 | 6 months | 3 times | Non-collateral | DDACC Mandate or Payroll Deduction |
| (ii) Medium Term Loans (Debt Refinancing and Asset Financing Loans) | 2% per month | From K50,001 to K450,000 | 18 months | 4 times | Depending on the amount and management risk assessment, collateral include Ubuntu shares, bond certificates, motor vehicle white books, title deeds, etc | DDACC Mandate or Payroll Deduction |
| (iii) LimaPlus Investment Loan (Financing the purchase of Agricultural, Water and Energy products from Saro Agro Industrial Ltd and Davis and Shirtliff Zambia Ltd. Discount offers from 5% to 25%) | 1.8% per month | K450,000 | 18 months | 4 times | Depending on the amount and management risk assessment, collateral include Ubuntu shares, bond certificates, motor vehicle white books, title deeds, etc | DDACC Mandate or Payroll Deduction |
| (iv) Ubuntu Premium Loan | 1.8% per month | From K150,001 to K500,000 | 36 months | 5 times | Title Deed | DDACC Mandate or Payroll Deduction |
| (v) Emergency Loan (This product can only be accessed by members who already have other running loans) | 2.5% per month | K15,000 | 3 months | N/A | N/A | Payroll Deduction |
#Ubuntuspeed
The Cooperative processes loan applications and pays within 24 hours. The 24 hours processing period applies to other services such as processing of membership application forms and other member requests/inquiries like share purchase, early settlement, loan calculations and member statements.
100 shares allocated to every member who joins the Cooperative to be purchased within six months.
A share holder can benefit in the sharing of annual profits distributed as dividends.
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