Normal loan
A development loan for members who have saved for at least one month, subject to affordability.
- Repayment period: 1 to 24 months.
- A member may qualify for one normal loan alongside another loan if affordability allows.
LOAN OPTIONS
Support for plans, projects and unexpected expenses.
Different needs call for different kinds of support. Explore the loan types and contact the SACCO for current eligibility, affordability checks and application requirements.
FiNES loan
Financial Inclusion and Entrepreneurship Scaling (FiNES) is described as a loan offered in partnership with the Reserve Bank of Malawi.
- Applicant must be a Chilungamo SACCO member.
- Attach the latest two payslips and a copy of an accepted identification document.
- Provide the supporting documents and collateral; business operation for at least one year is stated.
- Repayment period: 12 months.
Emergency loan
For unforeseen circumstances such as hospitalisation, school fees or funeral expenses.
- Quick access after application, depending on affordability.
- Repayment period: 6 months.
Material loan
For members who need materials such as fertiliser, iron sheets and other approved materials.
- Provided in the form of materials.
- Repayment period: 12 months.