Chitukuko Sacco Malawi

Material Loan

Need Chitukuko to procure items for you? Then this is the type of loan you require. We buy items ranging from building materials, household items, car, etc. This is a long term loan and can be paid up to a maximum of 24 months and attracts an interest of 3.5% - 6% per month. These loans are disbursed anytime. Maximum amount is 200% of current shares.

This type of loan has a  processing fee of 4%. To calculate how much the loan will charge please click here and select Material loan; type in the loan amount and number of months you want the loan to be deducted with a maximum of 24 months. The details of deductions will display below

Requirements:

  • Contact your closest branch to check how much loan can be taken depending on your shares and current loans if any

  • Fill a loan application form and get it approved on salary deduction

  • Collateral for loans over MK1,000,000
  • Provide a current payslip
  • To download loan application form click here

Loan Calculator

Loan Processing Fee (LPF): {{lpf() | currency : "MK"}} ( {{lpf_percentage}} % Rate)

Total Amount You Will Pay: {{total() | currency : "MK"}}

Total Interest Alone You Will Pay: {{totalinterest() | currency : "MK"}} ( {{interest_percentage}} % Monthly Rate for {{getPeriod()}} Months )

Months Date Principal Amount Monthly Deduction Interest Deduction Total Monthly Deduction
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