About Soft Loans

A soft loan is a form of quick loan that is  available to members who take their salaries from the Controller And Accountant Generals Department.

1.  The loan amount shall not eceed Ghs 1000
2. The loan shall be accessible only from 15th of every month. 

THE PURPOSE OF THE LON

• Loan shall also be granted to member for provident purpose or productive purpose.
• Loan shall also be granted under emergency situations meant to protect life or property.
• A member must state the purpose of his/her loan clearly and where necessary attach evidence to substantiate the purpose-as it may be required by the loans committee.

CARGES ON LOANS

• All loans shall be insured by the borrower at a premium as approved by the computation by CUA ltd., against the risk of death or permanent disability, which must be paid before the loan is paid to the members.
• Interest on loans shall be 3% per month reducing balance method.
• Collection cost when incurring to a particular loan, shall be borne by the member. 
• d. Insurance shall be made to cover all loans except loans going to group members against the risk of death and permanent disability.