Bima Loan

Why Take A Bima Loan?

Applying for a Bima Loan can be a wise financial move for several reasons. Firstly, a Bima Loan can help you secure essential insurance coverage for yourself and your family. It ensures that you have financial protection in case of unexpected events, such as illness, accidents, or even unfortunate events like death.

Secondly, the interest rate on a Bima Loan is often lower compared to other types of loans, making it an affordable option. This means you can get the insurance coverage you need without straining your budget.

Additionally, taking out a Bima Loan demonstrates financial responsibility, which can positively impact your creditworthiness within the cooperative. This, in turn, can make it easier for you to access other financial products and services, like higher loan amounts or more favorable loan terms.

What It Is:

  • Repayment period 10 months
  • Loans are appraised as any other loans
  • Interest rate 8% pa reducing balance.

Joining Requirements:

  • Any necessary documents?
  • A minimum threshold of deposit amount?
  • A list of guarantors?
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