This is a special facility extended to FIC members to meet short-term urgent needs such as travel expenses, event expenses, etc.
The qualification is upon the discretion of the Management Committee depending on the prevailing circumstances.
- Must have a stable source of income
- Must have a good repayment history
Terms and conditions
|Maximum Loan amount
|3 times total savings and share capital; but not exceeding 5 Million. Existing borrowers with good repayment record
do not require minimum requirements.
|Maximum Loan period
|Monthly or lump sum
|2.5% per month
|Interest calculation method
|Loan processing fee
|2% of the approved loan amount
|2.5% of the amount in arrears 30 days and above accrued monthly
|Loan application fee of 20,000/= and Insurance fees according to insurance policy rates.
|Savings/share capital/tangible collateral etc.