Product Overview
BACCSOD funeral loans are given to members during bereavements. Beneficiaries must own shares and be of good standing.
Benefits of the Product
- Freedom from financial stress and pressure during bereavement.
- Easy accessibility of funds when bereaved.
- Organization of befitting funeral rites for deceased relatives.
- Repayment is within one month.
Requirements
- A beneficiary must have an active account and own shares
- A member must fill in a funeral loan application form.
- A family head and the funeral committee members of the applicant must jointly complete the application form and provide supporting documents such as their passport sized pictures and death certificate of the deceased.
- A guarantor must be provided by the member where necessary.
- A collateral may also be required where necessary.
