The Co-operative Membership Loan is offered to prospective members that can’t afford the R10,000 upfront cost of one co-op share. The interest rate is on the loan is an effective 18.1%. The capital used for an EQx Development Co-operative membership loan is from the co-ops own members. Members effectively ‘loan’ money to their EQx Development Co-operatives at a fixed rate of 1% per month when they purchase EQx tokens.

N.B. Interest is paid out in EQx tokens on the previous month end balance. Also, a members interest earning EQx balance does not include the co-op share value which reflects as an EQx balance in the account of an EQx Development Co-operative.

The Payment Schedule

No.	Payment Amount	Interest Amount	Capital Reduction	Balance Due
1	R 500	R 151	R 349	R 9,651
2	R 500	R 146	R 354	R 9,297
3	R 500	R 141	R 359	R 8,938
4	R 500	R 135	R 365	R 8,573
5	R 500	R 130	R 370	R 8,203
6	R 500	R 124	R 376	R 7,827
7	R 500	R 118	R 382	R 7,446
8	R 500	R 113	R 387	R 7,058
9	R 500	R 107	R 393	R 6,665
10	R 500	R 101	R 399	R 6,266
11	R 500	R 95	R 405	R 5,861
12	R 500	R 89	R 411	R 5,449
13	R 500	R 82	R 418	R 5,032
14	R 500	R 76	R 424	R 4,608
15	R 500	R 70	R 430	R 4,178
16	R 500	R 63	R 437	R 3,741
17	R 500	R 57	R 443	R 3,298
18	R 500	R 50	R 450	R 2,847
19	R 500	R 43	R 457	R 2,390
20	R 500	R 36	R 464	R 1,927
21	R 500	R 29	R 471	R 1,456
22	R 500	R 22	R 478	R 978
23	R 500	R 15	R 485	R 493
24	R 500	R 7	R 493	R 0