Terms &Conditions

E.S.E Savings & Loans Terms and Conditions

The terms and conditions governing the membership of E.S.E Savings and Loans are listed below. Please read carefully ensuring that it is fully understood.

1).To become a member of E.S.E Savings and Loans, you must be honest and God Fearing person that attends church regularly to pray for progress in life and for others.

2).You must have the fear of God and put God first in everything you do in life and give honest and accurate information about yourself if and when requested.

3).As a member of E.S.E Savings & Loans, you must accept the concept of belonging to a Family and ready to help other members if possible and necessary.

4).As a member of E.S.E Savings & Loans, you agree to undertake and maintain an account with us and to keep saving with us whatever weekly amount for the loan times that may come.

5).As a member of E.S.E Savings & Loans, you are made aware that there is a non refundable registration fee of N2500 to be paid to become registered with us.

6).You also agree to becoming a member that you are aware of a voluntary weekly savings of N1000 that will eventually qualify you for a starting expansion Loan.

7).Every member with little or no business experience will be required to attend an organized monthly training and business orientations meeting to qualify for financial assistance.

8).That any act of dishonesty and false declaration of information will lead to immediate termination of any account held with us and demand for full refund of any outstanding loan.

9).Any requested loan must be guaranteed by 2 viable guarantors and insurance and can only be made after 8 weeks of membership and regular payment of weekly contributions.

10).All registered members shall be assigned to an agent nearest to their business premises to ensure consistency in adherent to commitments.

11).Loans will paid out to qualified members on a first come first serve basis and the interest accrued from every given loan shall be used for the benefit of other members and mankind.

12).All members transactions with E.S.E Savings & Loans shall be conducted through their designated agent or handler. E.S.E Savings & Loans reserves the right to reject, dismiss, make changes and overrule claims and counter claims on behalf of the organization.

13).it is forbidden to only want to become a member of E.S.E Savings & Loans only for the purpose of obtaining a loan. You participation as a member of an organized family is a requirement set out by our board of Directors.

14).Going against any of the above membership terms will invalidate your membership and any savings account held with us. We reserve the right to modify any of the above stated terms without any prior notice to members.

15). Members paying the weekly savings do by our standard become eligible for a loan after fully registered and consistent in weekly savings for a minimum of 8 weeks.

16).Members must provide 2 viable guarantors that is capable of guaranteeing the amount of loan applied for.

17).In requesting for any of our loan package, members must have no record of savings arrears or any outstanding debt with other organization or banks.

18).Members must ensure that enough funds have been saved to justify any requested loan amount which is required to be in ratio 1:5.

19). Our loan application forms must be properly filled on-line and submitted with any additional requested items.

20). Requesting members must be free of bad behavior towards any of our staffs or field marketers/cash collection agents. All members must be of good behavior, respectable with patience and understanding in all dealings with E.S.E Savings & Loans.

21).No act of intentional fraud should be envisaged in any loan request processes as this will render that member and saver non and void.

22).Requesting for a loan from us must be seen to be real, authentic and viable with visible means of paying back the loan, interest and savings.

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