We are here to help you make your financial dream come true.
At Royalty Thrift & Credit Cooperative Society Ltd, we offer a wide range of services tailored to meet your financial needs and aspirations. Whether you’re saving for the future or investing in opportunities today, our services are designed to support your journey.
Our mission is to empower members through structured target savings, accessible loans, and financial support tailored to life’s key milestones.
Whether it’s securing affordable back-to-school financing, building investments, accessing salary advances, participating in thrift contributions, or planning for homeownership through land acquisition programs, we are here to support every step.
We are committed to transparency, offering competitive interest rates and flexible repayment options to ensure our members grow and thrive financially.
Start small, grow big. Our mandatory savings plan ensures disciplined wealth building with competitive interest rates of up to 20% annually — helping you build a strong foundation for your financial future.
Need quick access to capital? Our short-term loan options come with flexible terms, low processing fees, and fast approvals — ideal for urgent personal or business needs.
We’re committed to helping members own their dream homes. Through strategic land acquisition and development projects, we aim to provide affordable housing solutions to qualified members.
Looking to support a loved one or colleague? Learn how you can help them qualify for a loan by becoming a guarantor — with clear guidelines and full transparency.
Contact
- 8A Bensima House, Red Sea Close, Off Aguiyi Ironsi Street, Maitama Abuja
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0805 2979 955
0803 3341 624 - royaltythrift88@gmail.com
Application Forms
GENERAL TERMS & CONDITIONS.
This Association is governed by the Nigerian Cooperative Societies Act and it is of people who voluntarily come together to pursue economic goals for their own benefit.
Some of the benefits are that:
- We mobilize savings and channel them to individuals as loans for explicit improvement ventures at an agreed interest rate.
- We help to resolve, shortly, the housing problem of members, by acquiring development land and distributing same to able and capable members.
Any interested person can be a member once you:
– A. Fill out our Membership information form
– B. Submit the form with a minimum of N10,000.
– C. Pay a mandatory savings deposit for the next (6) months as savings with the association, and this shall attract an interest rate of 20% (subject to economic reality) per annum.
To obtain a loan, you must:
- Fill out an application form for a loan.
- He/she must be a member with a mandatory savings deposit for a minimum period of six (6) months.
- Obtain an application form with a sum of N10,000 and fill it out together with all relevant documents.
- Pay a legal/processing fee of 1% of the loan request for sales agreement preparation on the collateral given.
- Provide 1 or 2 Guarantors with an undated signed cheque leaf for the principal sum and interest.
- Provide a bank statement on his/her account for 6 months.
- For a loanable sum applied for, collateral must be provided with a forwarding letter of undertaking.
COLLATERAL
For any car or landed property, etc, put down as collateral, the following shall suffice:
– Application in the borrower’s handwriting, submitting the items as collateral.
– Photograph of the item (front, sides & back) must be provided together with the owner standing by it.
– iii. The sales agreement must be duly executed between the borrower and RTCCS.
OTHER CONDITIONS
- Interest Rate shall be between 10-15% flat rate per month calculated for the initial agreed loan tenor period; however, where repayment is spread within a certain period, interest rate shall be on a reducing balance basis.
- Any change of tenor shall be treated as follows:
– Full payment of the sum of interest for the initial agreed tenor.
– Such change of tenor shall attract an additional 2% flat rate increase (i.e, total flat rate on the unpaid principal) from that date until the newly approved tenor.
- Other details as may be stated and agreed.
TERMINATION OF MEMBERSHIP
- The occurrence of the following events shall cause the membership to be terminated.
- The amount under this facility becomes immediately due and payable if the borrower fails to make payment of principal, interest, or other amount in respect of the loan on the date it was due to be paid, the guarantor’s cheque shall be presented.
- When a member defaults in paying deposits for 3 consecutive months.
- Where the borrower fails to make payment of principal, interest, or other amount in respect of the loan on the date it was due to be repaid.
- When the cheque issued by the borrower and/or his guarantor bounced on presentation at the bank.
