AFED COOPERATIVE

We offer various loan repayment plans to cater to your financial needs:

• 6-month repayment term with a 5% interest rate.
• 8-month repayment term with an 8% interest rate.
• 12-month repayment term with a 12% interest rate.

Choose the best plan that suits your repayment ability and financial situation.

As a member of the AFED Cooperative, you enjoy a variety of benefits including:

• Access to affordable loan options with competitive interest rates.
• Ability to withdraw your savings at any time.
• Participation in community development projects.
• Exclusive offers and financial literacy programs.

To apply for a loan, you must meet the following requirements:

• Be a registered member of the cooperative for at least six months.
• Have a consistent savings record during that period.
• Provide a guarantor, if necessary, for larger loan amounts.
• Submit the completed loan application form, including a valid ID and proof of income.

The interest on your loan is calculated based on the repayment term you choose:

• For a 6-month term: 5% interest rate on the loan amount.
• For an 8-month term: 8% interest rate on the loan amount.
• For a 12-month term: 12% interest rate on the loan amount.

Interest is added to the total amount to be repaid at the end of the loan term.