Welfare Loans Services
The Welfare Loans Services provide financial support to members under favorable terms. The following are the key features and guidelines:
- Interest-Free Loans:
Welfare loans are offered at no interest rate, significantly benefiting many members of the teaching hospital. - Eligibility:
- Loans are exclusively available to Monthly Saving Scheme (MSS)
- Applicants must meet qualification criteria, and loans are disbursed based on availability of fundsand on a first-come, first-served basis.
- Membership Duration Requirement:
A member becomes eligible to apply for a loan only after completing at least six (6) months of membership. - Loan Application and Disbursement:
- Welfare loans are disbursed three times a year: in April, August, and December.
- Applications can, however, be submitted year-round.
- Emergency soft loansmay be granted at any time, subject to the approval of the Loans and Credit Committee and the President, provided funds are available.
- Repayment Terms:
- Loan repayments are deducted directly from the member’s source of income.
- Repayment commences the month following the loan grant, unless otherwise approved.
- Employment Status Verification:
Applicants must provide evidence confirming that they will not leave the service of Ahmadu Bello University Teaching Hospital (ABUTH)due to retirement, completion of a residency program, or any other reason during the loan repayment period.
