IDL (Interest on Deposits) Loan
The IDL (Interest on Deposits) Loan is one of the Society’s loan products that create an opportunity for the members to make use of the undeclared interest on deposits for the financial year in question.
Loan Details:
- This loan has a Maximum amount of 50% of the projected year’s undeclared interest;
- Application opens during the month of February of the financial year in question;
- This loan attracts an Interest rate of 5% that is charged upfront; and finally,
- All other credit terms and conditions apply.
Why Apply for the IDL (Interest on Deposits) Loan
High Declaration Amount
Maximum amount of 50% of the projected year’s undeclared interest
High Interest
This loan attracts an Interest rate of 5%
Flexibility
The application period begins in February of the applicable fiscal year.
Are You Interested in Applying for This Loan?
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