Dear SESLA Member,

Due to continued regulatory and market volatility, your Association had to review its loan product interest rates, and has made a rational decision to increase the following with effect from September 1, 2019:

Loan Products New Rates HSF Terms
1. Consumption Loans
a. Regular Salary Loan with
15.00% 2.0% 3 Years Max
b. Regular Salary Loan without co-makers
I. One-month salary loan

15.00% 2.0% 1 Year Max
II. Educational Assistance 15.00% 2.0% 1 Year Max
III. Retirement Loan 15.00% 2.0% 3 Years Max
c. Special Salary Loan with
I. Calamity Loan 6.00% 2.0% 1 Year Max
II. Medical Assistance Loan 8.00% 2.0% 3 Years Max
lll. Educational Assistance 12.00% 2.0% 1 Year Max
d. Back-to-back Loan 15.00% 2.0% 3 Years Max
2. Chattel Mortgage Loans
a. Car 15.00% 2.0% 5 Years Max
b. Motorcycle 15.00% 2.0% 5 Years Max
3. Housing Loan *** for further study ***

We regularly review our rates to ensure they reflect current market conditions. From time to time we rationalize our pricing to continue to operate sustainably and competitively while servicing our member’s savings and loans requirements. We’re committed to the long-term stability and security of the Association for our members, and this ultimately drives every decision we make.

Thank you for your continued patronage.