Loan Packages
Emergency Loan
Meant to meet member’s urgent unforeseen emergencies.
The applicant must complete the loan application form in full and any incomplete form will be returned unconsidered.
The loan is self-guaranteed.
Description
Approved within a day.
Repayment period is within 6 months.
Interest rate 1% reducing balance and subject to change from time to time.
Qualification. A member who has consistently saved with the Sacco for at least 6 months or member with existing loan(s) and with good repayment history as may be determined by the Credits committee.
Loans are granted subject to availability of funds.
A member must be saving at least ksh 5,000 per month.
Maximum amount Kshs 25,000.
Subject to the one third rule of ones’ basic salary as prescribed by the ministry of co-operative guideline.
School Fees Loan
Meant to meet member’s school fees needs.
The applicant must complete the loan application form in full and any incomplete form will be returned unconsidered.
The loan is self-guaranteed.
Description
Approved within a day.
Repayment period is within 6 months.
Interest rate 1% reducing balance and subject to change from time to time.
Qualification. A member who has consistently saved with the Sacco for at least 6 months or member with existing loan(s) and with good repayment history as may be determined by the Credits committee.
Loans are granted subject to availability of funds.
A member must be saving at least ksh 5,000 per month.
Maximum amount Kshs 25,000.
Subject to the one third rule of ones’ basic salary as prescribed by the ministry of co-operative guideline.
Special Loan
Meant to meet member’s special needs from time to time.
The applicant must complete the loan application form in full and any incomplete form will be returned unconsidered.
The loan is guaranteed or self-guaranteed.
Description
Approved within 2 days.
Repayment period is within 12 months.
Interest rate 1% reducing balance and subject to change from time to time.
Qualification. A member who has consistently saved with the Sacco for at least 6 months or member with existing loan(s) and with good repayment history as may be determined by the Credits committee.
Loans are granted subject to availability of funds.
A member must be saving at least ksh 5,000 per month.
Subject to the one third rule of ones’ basic salary as prescribed by the ministry of co-operative guideline.
Maximum amount Kshs 100,000.
Car Loan
Meant to meet member’s need to acquire motor vehicle.
The applicant must complete the loan application form in full and any incomplete form will be returned unconsidered
Description
Approved within 6 days.
Loans are granted subject to availability of funds.
Maximum repayment period is 48 months
Interest rate 1% on reducing balance and subject to change from time to time.
Qualification. A member who has consistently saved with the Sacco for at least 6 months or member with existing loan(s) and with good repayment history as may be determined by the Credits committee.
A member must be saving at least ksh 5,000 per month.
Subject to the one third rule of ones’ basic salary as prescribed by the ministry of co-operative guideline.
Development Loan
Meant to meet member’s developmental needs such as acquisition of land, houses, etc.
The applicant must complete the loan application form in full and any incomplete form will be returned unconsidered.
Description
Approved within 14 days subject to Credit & Management Committees approval.
Loans are granted subject to availability of funds.
Repayment period is within 48 months.
Interest rate 1% on reducing balance and subject to change from time to time.
Qualification. A member who has consistently saved with the Sacco for at least 6 months or member with existing loan(s) and with good repayment history and as may be determined by the Credits committee.
A member must be saving at least ksh 5,000 per month.
Maximum amount is three times a member’s savings.
Subject to the one third rule of ones’ basic salary as prescribed by the ministry of co-operative guideline.
Loan Restructuring
The management Committee reserves the rights to approve or reject the requested restructuring. More details to be shared with membership in due time.
Corporate Group Loan
The management Committee reserves the rights to approve or reject the requested restructuring. More details to be shared with membership in due time.
