Tertiary Education Assistance Loan
FEATURES
Interest rate of 1.1%
Loan finances tertiary level education for members or their children.
Option to pay interest only for a maximum of four years.
Full instalment due after four years.
Lump sum payments without interest penalty after one year permitted.
Full instalment become payable if studies are discontinued.
DOCUMENTATION
Acceptance at tertiary institution.
TERM
The repayment period for this loan ranges from 12 months to 9 years or up to age 60 of applicant not exceeding 9 years.
PAYMENT
Repayment will be through the authorization of salary deductions.
