The current interest rate is 4% flat per annum.
	Repayment period ranges from 12 to 60 months. The sum to be repaid would be deducted monthly from the member's salary. Two installments would be deducted upfront from the loan amount.
	Available to Ordinary Members of the Co-operative provided that the total deductions from the member's pay packet do not exceed 50% of the gross salary. Look at the repayment schedule to determine the monthly instalment payment. Generally favors members who have at least ten years of membership with the Co-operative.
	Minimum loan limit is $30,000 per member. The maximum ceiling is fixed at $45,000 per member. Quantum of loan given by the Co-operative will depend on the score garnered by the member under the Co-operative's Credit Rating System. The member would be informed of the result by the staff at the time of loan application. The Cooperative reserves the right to approve the loan, approve the loan with guarantor(s) procured by the loan applicant or reject the loan.
	Execution of loan agreement is on an appointment basis.
	Latest Original Payslip must be produced by the member at the time of loan application.
	Loan will be insured under a group credit policy. The insurance premium will be levied and deducted upfront from the loan amount. In the event of a member’s death, the insurer will reimburse the Co-operative the outstanding balance that the deceased had owed. The group credit policy exclusions are: • Suicide, while sane or insane, within first year from Date of Entry • Total Permanent Disability caused directly or indirectly, wholly or partly, by self-destruction or any attempt there at within 12 months from the Entry Date, while sane or insane.
	Members who have placed fixed deposits with the Co-operative can use them as security for the loan. They will not need to pay the premium under the Co-operatives' in-house Insurance Loan Scheme. Of course, the amount of fixed deposits must be equal to or more than the quantum of loan applied for. In this case, members will have to pay for their own personal accident coverage with premium to be deducted upfront from the loan amount.

Q: Can a member apply for Insurance Loan and a Crediting Rate Loan simultaneously?

A: A member could have an Insurance Loan and a Credit Rating Loan simultaneously. The Co-operative would consider giving these two types of loans to a member if he/she is able to fulfill the terms and conditions stipulated by the Co-operative.

	Credit Rating Loan Scheme
	EASI-Loan Scheme

Special Self Insured Loan Scheme

	Hundred-Percent Loan Scheme
	Gratuities Loan Scheme
	The Millennium Loan Scheme