Motorcycle (Bodaboda) & Motor Vehicle Loans

These are loans offered to members mostly the youth with an objective of solving unemployment whereby they are allowed to own motorcycles/motor vehicles after making a small initial deposit.

More about the product.

• The loan client has to be a member of MHSL.
• These loan are offered on 2.5% per month on the flat basis.
• First-time borrower are encouraged to deposit at least half of the total cost of the motorcycle/ motor vehicle.
• They are paid back in the period not exceeding 2 years.
• The purchased motor cycle /motor vehicle can still act as collateral for the loan.
• Payment can be done monthly or weekly.