SUSU LOANS SCHEME
- Applicants should be in active business.
- Applicants should operate Susu Savings Account
for at least three (3) months before eligible for
- Each applicant shall be assessed on his/her own
merit based on cash flow.
- Applicants shall be assessed for credit by the
Bank’s Credit Officer
- Applicants shall contribute towards the
provision of cash lien against the loan amount
in his/her Savings Account as Security against
the loan in the event of default.
- Applicant shall provide at least one (1)
person in good standing as a personal guarantor.
- Applicants shall provide one recent
- Passport-size photograph shall be produced
by the Guarantor.
- The Identification Card of the Guarantor
should be required.
- Loan repayment shall be on daily, weekly
and monthly installment basis or as
determined between the parties depending on
the cashflow of the sources of repayment and
nature of the business.
- There would be moratorium (grace period)
on monthly loan repayments depending on the
nature of the clients business, cash flow
patterns and the size of the loan.
- Loan duration shall be up to six (6)
- Applicants shall make a daily
contribution towards loan repayment
- Until the loan is fully paid the
applicant should continue to operate the
Susu Savings Account.
- An attractive interest rate per
annum shall be charged agreed upon and
charged on the loan.
- A commitment fee shall also charged
on the loan to cater for insurance again
permanent disability and loss of life
but not against willful default.