Interest Rate The interest rate for the Hundred Percent Loan Scheme is 5% flat per annum. The Co-operative reserves the right to revise the interest rates of the Hundred Percent Loan Scheme as dictated by factors in the market
	Admin Levy Administrative levy will be imposed for each approved application of loan
	Repayment Period Repayment period ranges from 12 to 60 months. The sum to be repaid will be deducted monthly from the member’s salary. Two advance instalments will be deducted up front from the loan amount.
	Loan Amount The loan limit is pegged at member’s subscription savings less $500/- less outstanding loan if any. For example, if member has a subscription saving amount of $10,000, the loan limit would be $9,500. The member would be informed of the result by the staff at the time of loan application. The Co-operative reserves the right to approve the loan or reject the loan. Members will be informed of the outcome by the staff upon the receipt of the loan application by the Co-operative.
	Group Credit Policy Loan will be insured under a group credit policy. The insurance premium will be levied and deducted up front 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 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.
	Documents The member must produce latest Original Payslip at the time of loan application. The Co-operative has to ensure that total deductions inclusive of the repayment for the new loan should not exceed 50% of gross pay. This is the guideline given by the Ministry of Finance which the Co-operative has to adhere to. Hence, the payslip is an important document for the Co-operative to determine on the quantum of loan to be given to a member as well as the repayment period for the loan.

Please fill in the Loan Assessment Form and fax to us at Tel: 63348497 together with the required documents.

For more information on the scheme please contact the Co-operative at Tel: 63348055.

	Credit Rating Loan Scheme
	EASI-Loan Scheme

Special Self Insured Loan Scheme

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