Loan Types
Self-Guaranteed Loan
Definition & Core Rule: The amount applied for must strictly fall within the member’s existing personal savings balance.
Guarantorship Requirement: Requires no external guarantors because the loan is completely backed by the member’s own savings.
Suitability: Ideal for immediate, smaller-scale financial needs where a member prefers to borrow against what they have already saved without involving other group members.
Member Guaranteed Loan
Definition & Core Rule: The amount applied for must strictly fall within the member’s existing personal savings balance.
Guarantorship Requirement: Requires no external guarantors because the loan is completely backed by the member’s own savings.
Suitability: Ideal for immediate, smaller-scale financial needs where a member prefers to borrow against what they have already saved without involving other group members.