CRITERIA
Our loans are designed to meet the needs of members – eg., access funds to finance housing projects, education, medical, rent, personal projects, etc.
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• A member qualifies for a loan facility, if he/she consistently contributes on a monthly basis into his/her Savings Account (M’anidaso) for six (6+) months or more.
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• Loans granted are up to three times (3x) the contribution of a member.
1. Loan Repayment period for a credit facility is between one (1) month to thirty-six (36) months for church member(s)
2. Loan repayment period for a credit facility is between one (1) month to sixty (60) months for Church Entities and church worker(s)
3. All Terms & Conditions apply.
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• Members are to consistently contribute into their Savings Account (M’anidaso) while servicing their loan.
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• Our loans are offered repayment on the flat rate basis (straight line).
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• The current interest rate on loan is 15% per annum, for the year 2023.
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• Processing fee of 3% shall be charged on loan facility.
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• Guarantor forms are to be filled by church member(s) requesting loan.
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• Members can not apply for new loans whiles servicing the old loan. One loan at a time.
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• AHCoF do not give top-up loans nor does AHCoF accept set-off with ones’ contribution.
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• Members can obtain Loan application forms directly from AHCoF office;
1. Union/Conference – for church workers, churches/districts, conferences/institutions
2. District/Church – for church members.
3. Sent via Whatapp.
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• Call or walk-in and speak with our office to find out more.
