Welcome to Impumelelo Savings and Credit Cooperative Society

Long Term Loan

  • They are based on member’s savings.
  • Members are given twice their saved amount.
  • A member can apply for a new loan after paying his/her loan.
  • Executive Loan Term

  • To qualify have savings of E70,000.00.
  • Relief/Special Loan

  • Every member is entitled to this loan.
  • Payable over twelve(12) months.
  • No proof is required to obtain this loan.
  • Maximum loan cannot exceed ten thousand Emalangeni (E10,000.00).
  • can be granted concurrently with other products.
  • A non-defaulting shall be able to revolve to a new loan agreement after 50% repayment, of which can be allowed in the form of cash deposit.
  • Mlamuli Loan

  • They are based on member’s savings.
  • The member is given 75% of his/her total savings.
  • Payable in 24 months.
  • The loan is given in cases of unforseen circumstances such as death.
  • Educational Loan

  • A member can obtain a maximum amount of E20,000.00.
  • The maximum repayment is 24 months.
  • Ordinary savings shall be at least E10 000.00 to obtain this loan.
  • Titselo Loan

    This loan is to support members in achieving whatever they would like to achieve to improve their lives.

  • The member has to meet the 5C’s of credit.
  • the member must have fully paid up shares.
  • The member shall be checked through ITC for clearance.
  • Maximum amount of E30,000.00.
  • The loan shall be repaid within 24 months.
  • This loan can be granted concurrently with other products or on its own.
  • The loan application should reach the office 3 days before the committee sitting.
  • Msimisi Loan

  • Members are bailed out of other financial institutions.
  • Members must have savings of not less than E20,000.00.
  • Maximum loan is E100,000.00.
  • A member is bailed out once.
  • You want to become a member now?