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Seniors Loan

SENIORS LOAN

Total Coop continues to support our retired members to execute their projects through the Seniors Account. The account is for retired members who wish to save towards their projects. With a minimum lodgement of N500,000 monthly into your Seniors Account, you can enjoy unlimited number of withdrawals after 6 months lock in period. Minimum balance is N100, 000. [content_control role=”administrator, cooperators”] Concessionary interest per annum is 5%. Pre liquidation penalty is 15% on interest accrued.[/content_control]

Your retirement does not exclude you from our services. We ensure that your benefit from the cooperative continues. Enjoy access to personal loans even as a retiree of Total E & P Nigeria Limited.

[content_control role=”administrator, cooperators”] What you should know:

  • The minimum share holding for eligibility is 200,000 units.
  • You can access 75% of your share value as
  • Interest rate on loan is  22% (or project loans rate).
  • Tenor of loan is  maximum of 24months with option for bullet payment  at maturity
  • Credit Insurance is 5% flat on loan amount
  • Standing Order/ Remitta PIN required
  • Letter of set off required[/content_control]