Development Loans

Loan granted for provident/productive or development purposes.

School Fees Loans

School fees, College & University fees.

Loans granted for paying fees to schools, colleges and university fees
Members applying are required to attach supporting documents
Maximum repayment period is 12 months to enable members apply for new loans
Competitive interest rate of (15% per annum) or 1.25% charged on monthly reducing balance basis

Unforseen misfortunes.

Unforeseen misfortunes for example court cases, medical, fire, funeral etc.
Loans approved and paid within a maximum of two (2) working days
Members applying are required to attach supporting documents
Maximum repayment period is 12 months to enable members apply for new emergency loans
Competitive interest rate of (15% per annum) or 1.25% charged on monthly reducing balance basis
An emergency loan shall not be granted for an amount exceeding N$ 20,000

Repay loans to other financial institutions to manage net salary.

Repay loans owed to other financial institutions with a view to manage the net salary
Loan proceeds shall be paid directly to the financial institutions owed by the member
Members to attach evidence of the loans, institutions and amounts outstanding
Maximum repayment period of up to sixty (60) months
Interest shall be charged at the rate of (24% per annum) or 2% charged on monthly reducing balance basis
A consolidation loan shall not be granted for amount exceeding N$ 100,000.

Buy shares and also grow your money by saving with NAMSACCO

Savings
- Monthly savings against which loans will be assessed
- Minimum monthly savings is N$ 200
- Members can save above the minimum