OUR PRODUCTS
01
LOAN PRODUCTS
Development loan
This product if for our members who are planning to expand their businesses or projects
Terms and conditions
- Interest rate 1% per month on reducing balance
- Maximum repayment period is 48months
- It’s given 3 times your savings
- It’s processed within a short period
- Must be an active member
- It’s applied twice a month i.e. 10th &25th
- Processing fee 1% on applied amount
School Fees loan
This product if for our members who wish to pay their children’s school fees
Terms and conditions
- Interest rate 1% per month reducing balance
- Maximum repayment period is 12months
- It’s given 3 times your savings
- It’s is processed within a short period
- Must be an active member
- It’s applied twice a month i.e. 10th &25th
- Processing fee 1% on applied amount
Emergency Loan
This product serves our members by aiding them in unforeseen circumstances such as medical emergencies, fires, deaths, or court fines.
Terms and conditions
- Interest rate 1% per month reducing balance
- Maximum repayment period is 12months
- It’s given 3 times your savings
- It’s applied anytime
- It’s granted to a member even if he/she has an outstanding loan.
- Maximum application amount Ksh 100,000
- It’s processed within a short period
- Processing fee 1% on applied amount
Refinancing loan
This product helps members to borrowing an additional amount over your existing loan. It is offered to existing borrowers with a good repayment track record.
Terms and conditions
- Interest rate 1% per month reducing balance
- Maximum repayment period is 48months
- It’s given 3 times your savings
- Should have paid at least a half of the existing loan
- It’s processed within a short period
- Repayment period is rescheduled back to the loan being bought
- Processing fee 1% on applied amount
Instant loan
This product helps members to apply a new loan to pay off an existing one .
Terms and conditions
- Must be an active member
- Should not underpay other loans or be a defaulter
- Loan is granted based on member’s free deposits with the Sacco
- Repayment period is 1 month
- Interest rate is 5%per month
- Maximum loan amount is Ksh. 10,000, subject to Board review.
Holiday loan
These product is intended to finance member holiday expenses
Terms and conditions
- Maximum Repayment period is 48 months
- It’s granted to a member even though he/she has an outstanding loan
- Interest rate of 1% per month on reducing balance.
- Maximum entitlement is 3 times the member’s deposits.
- Members are allowed to have a maximum of one holiday loan subject to member’s deposits.
Asset financing loan
Asset financing is intended to assist in the acquisition of movable assets and immovable assets, such as, motor vehicles, motorcycle and tuktuk, land and tanks
Terms and conditions
Long term assets
1. Motorcycle
- The Sacco will finance 60% of the value of the asset
- Repayment period is 36 months
- The loan will be given 3 times your savings
- Interest rate is 1.3% per month on reducing balance
- Sacco will retain the documents as the security
2. Tuktuk
- The Sacco will finance 60% of the value of the asset
- Repayment period is 36 months
- The loan will be given 3 times your savings
- Interest rate is 1.3% per month on reducing balance
- Sacco will retain the documents as the security
3. Motor vehicles
- The Sacco will finance 60% of the value of the asset
- Repayment period is 36 months
- The loan will be given 3 times your savings
- Interest rate is 1.3% per month on reducing balance
- The motor vehicles age should be below 9 years
- Sacco will retain the documents as the security
4. Land
- The Sacco will finance 80% of the value of the asset
- Repayment period is 48 months
- The loan will be given 3 times your savings
- Interest rate is 1.3% per month on reducing balance
- Sacco will retain the documents as the security
Short term asset
Tank
- It is repayable within 12 months
- The loan will be given 3 times your savings
- Interest rate is 1.3% per month on reducing balance
- Sacco will retain the documents as the security
Solar panels
- It is repayable within 24 months
- The loan will be given 3 times your savings
- Interest rate is 1.3% per month on reducing balance
- Sacco will retain the documents as the security