Normal Loan(36)
This is a loan that is meant for development purposes
Requirements:
- Maximum repayment period = 36 months
- Qualifying shares=*3 savings
- At least 2 guarantors
- Member must have contributed for at least 6 months
- Two latest payslips/bank statement for 3 months
- A copy of national ID for the member
Normal Loan (48)
Are loans that provide opportunity for bigger investment.
Requirements:
- Maximum repayment period = 48 months
- Qualifying shares = *3 savings
- At least 2 guarantors
- Member must have contributed for at least 6 months
- Two latest payslips/bank statement for 3 months
- A copy of national ID for the member
Normal Loans (60)
This is a development loan that provides opportunity for bigger investment and longer repayment period.
Requirements:
- Maximum repayment period = 60 months
- Qualifying shares=*3 savings
- At least 2 guarantors
- Member must have contributed for at least 6 months
- Two latest payslips/bank statement for 3 months
- A copy of national ID for the member
- One must contribute 10% of basic as monthly savings
Top Up Loan
This is a refinancing loan issued to complete stalled projects. The loan to be refinanced must be with the Sacco. A complete buy-off of the existing loan is mandatory. The interest rate shall be pegged on the previous loan.
Super Member Loan
Intended for super Savers who want to go it alone
Requirements:
- Maximum repayment period = 48 months
- Maximum loan amount is 90% of member savings
- No guarantors required
- Member must contribute at least 12.5% of basic salary monthly
- Two latest payslips
- A copy of national ID for the member