As the name implies, it is different from the weekly, regular loans. It is of two types; a) festival and b)monthly loans. The tenor of monthly loans ranges from 1 to 10 months.
On the other hand, the festival loan, is only given during festival periods such as Christmas, Easter and the Muslim festivals. It is only for one month tenor in most cases unless there is an exceptional approval to extend the duration.

Requirements

1. Must be an existing client unless in exceptional cases.
2. Two (2) guarantors.
3. Security – depending on the amount of the loan.
4. Valid means of identification.
5. Passport photograph.
6. Minimum savings (20% contribution) of the total amount to be accessed.
7. Management fees or Processing fee of 1% not refundable.
8. The loan is not leisured. That is, it must be fully recovered even at death of the client.
9. Attractive and most convenient interest rate, which is subject to economic relation.

Mode of Payment

1. Weekly
2. Monthly