Products & Services
The type of loan products available are:
- Emergency Loans
- School Fees Loans
- Normal Loans
- Top up Loan
- Instant Loan
All loan applications must be on original serialized loan application form duly completed and signed by applicant and witnesses. Photocopies shall not be accepted.
We offer up to three (3) development loans with maximum repayment period of (4.5) years (54 months) subject to 10% commission on top up loan. The maximum loan entitlement is three times of your savings and there is no limit of the amount you can borrow in respect to your savings
One instant loan is allowed with a maximum repayment period of three (3) months. However the loan to be granted is dictated by ability to pay. The maximum amount is kshs 100,000. An interest of 1.60% per month on flat rates is charged.
Investment IPO Loans
One investment loan is allowed with a maximum repayment period of six (6) months the maximum amount is 80% of your previous year dividends. No guarantors are required on this loan. An interest of 1% per month on flat rate is charged.
Top up Loans
We understand our members constant development needs .To keep them on the move we enable them take new loan to offset or reschedule existing one. A commission of 10 % is charged on total outstanding loan. Authority for deduction of 10% commission should be made in writing. The 10% commission and balance of loan is reduced from new loan.
Only eligible members of SACCO will qualify for loans. Members who are in arrears in loan repayment or shares/deposits contributions will not qualify for loans
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