Loan Services
Loan/ Credit provision is the other primary undertaking in Temerach Sacco Ltd. All members have an equal right to benefit from the credit service. Apart from fulfilling the pre-credit requirements in the law, Temerach loan committee and loan department take various factors mentioned below before deciding on each credit application.
social loan
A member saves 25% of his/her loan request for six consecutive months and borrows the loan up to 300,000.00 (three hundred thousand ) birr for social commitments. For women at 12% interest rate For men at 12.5% interest rate with a three years payback period.
Housing Loans
A member saves 25% of his/her loan request for six consecutive months and borrows the loan to buy, construct, or maintain a house. A member could borrow up to 5,000,000.00 (Five Million) birr for House Purchase ,House Maintenance and House Construction. At 14% interest rate with a twenty years payback period.
Vehicle loan
A member saves 25% of his/her loan request for six consecutive months and borrows the loan to buy a New Electric car or New /Used fuel car. A member could borrow up to 5,000,000.00(Five Million) Ethiopian birr to buy a New Electric car and New fuel car at 13.5% interest rate . For new fuel car with a ten years payback period. For New Electric car with a five year payback period and For used Fuel car could borrow up to 2,500,000.00( two thousand five hundred Million) birr at 13.5 % interest rate With a seven years payback period.
Trade / Business Loans
A member saves 25% of his/her loan request for six consecutive months and borrows the loan up to 500,000.00 (Five hundred thousand) birr for business Start up and expansion. At 13.5% interest rate with a Five years payback period.
Voluntary loan
A member saves 30% of his/her loan request for six consecutive months and borrows the loan to the purpose you want Cash loan. A member could borrow up to 3,000,000.00 (Three Million) Ethiopian birr For Cash loan at 15% interest rate with Five years payback period.
