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Reducing Balance vs Flat Rate: Why the "Cheaper" Loan Can Cost You More
A flat 1.5% per month sounds identical to a reducing-balance 1.5% per month. On a GHS 10,000 loan over one year, the flat loan costs nearly twice as much. Here is the maths.
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Borrow Up to Four Times Your Savings: KAMCCU Loan Rules Explained
Three months of saving, up to 4× your balance, from 1% per month reducing balance, up to five years to repay. This is how every KAMCCU loan rule works — and why each rule exists.
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