Sacco Loans
NOTE: A member can apply for one long term, one medium term and all short term loans at any given time
Long Term Loans
Long term Loan for Projects/Investments. Deposit Multiplier by 5. Salary Must Pass through the Sacco Maximum Period 96 Months. Minimum 3 Guarantors whose Pledged Deposits covers the loan applied. Deductions must be within 1/3 rd. rule. Interest Rate 1.208 % per month(14.5%P.A)Reducing
Long term Loan for Development. Deposit Multiplier by 5. Maximum Period 84 Months. Minimum 3 Guarantors whose Pledged Deposits covers the loan applied. Deductions must be within 1/3 rd. rule. Interest Rate 1.33 % per month(16%P.A)Reducing.
Loan term Loan for Bridging Projects. Deposit Multiplied by 5. Maximum Period 84 Months. Minimum 3 Guarantors whose Pledged Deposits covers the loan applied. Deductions must be within 1/3 rd. rule. Interest Rate 1.25% per Month (15%P.A) Amortized.
Mid Term Loans
Medium Term Loan for Development. Deposit multiplied by 3. Maximum period 48 Months. Minimum 3 Guarantors whose Pledged Deposits covers the loan applied. Deductions must be within 1/3 rd. rule. Interest Rate 1 % per Month.(12% P.A) Reducing.
Medium Term Loan for Development & Investments Deposit multiplied by 5. Maximum period 48 Months. Minimum 3 Guarantors whose Pledged Deposits covers the loan applied. Deductions must be within 1/3 rd. rule. Interest Rate 1.25 % per Month.(15% P.A) Reducing.
Medium Term Loan for Members Who have saved over One Million Deposits. Deposit multiplied by 4. Maximum period 60 Months. Minimum 3 Guarantors whose Pledged Deposits covers the loan applied. Deductions must be within 1/3 rd. rule.. Interest Rate 1 % per Month.(12% P.A) Reducing.
Short Term Loans
Short Term Loan for fees. Deposit Multiplier by 5. Maximum Period 12 Months. Minimum 3 Guarantors whose Pledged Deposits covers the loan applied. Deductions must be within 1/3 rd. rule, for Checkoff or Maintain Net Salary of at least Kshs. 5,000.00.for those whose salary passes through the Sacco. Interest Rate 1.25 % per month(15%P.A)Reducing
Short Term Loan for unforeseen circumstances. Deposit Multiplier by 5. Maximum Period 12 Months. Minimum 3 Guarantors whose Pledged Deposits covers the loan applied. Deductions must be within 1/3 rd. rule, for Checkoff or Maintain Net Salary of at least Kshs. 5,000.00.for those whose salary passes through the Sacco. Interest Rate 1.25 % per month(15%P.A)Reducing
Short Term Loan Designed For Household Items. Deposit multiplied by 7 Salary Must Pass through the Sacco Maximum period 20 Months. Minimum 3 Guarantors whose Pledged Deposits covers the loan applied. Maintain Net salary of at least Kshs. 5,000.00. Interest Rate 1.45 % per Month. Fixed Straight Line.
Long term Loan for Projects/Investments. Deposit Multiplier by 5. Salary Must Pass through the Sacco Maximum Period 96 Months. Minimum 3 Guarantors whose Pledged Deposits covers the loan applied. Deductions must be within 1/3 rd. rule. Interest Rate 1.208 % per month(14.5%P.A)Reducing
Medium Term Loan for Development. Deposit multiplied by 3. Maximum period 48 Months. Minimum 3 Guarantors whose Pledged Deposits covers the loan applied. Deductions must be within 1/3 rd. rule. Interest Rate 1 % per Month.(12% P.A) Reducing.
Short Term Loan for fees. Deposit Multiplier by 5. Maximum Period 12 Months. Minimum 3 Guarantors whose Pledged Deposits covers the loan applied. Deductions must be within 1/3 rd. rule, for Checkoff or Maintain Net Salary of at least Kshs. 5,000.00.for those whose salary passes through the Sacco. Interest Rate 1.25 % per month(15%P.A)Reducing
Long term Loan for Urgent Needs.
Net salary multiplied by 7.
Deposit Multiplied by 4.
Maximum period 10 Months.
Atleast 2 Guarantors
Deduction through Salary.
Rate 4 % per Month Reducing.
Once Every Month against Salary through FOSA Account.
Maximum Amount 300,000.
Rate 10% Amount advanced.
Long term Loan for Development. Deposit Multiplier by 5. Maximum Period 84 Months. Minimum 3 Guarantors whose Pledged Deposits covers the loan applied. Deductions must be within 1/3 rd. rule. Interest Rate 1.33 % per month(16%P.A)Reducing.
Medium Term Loan for Development & Investments Deposit multiplied by 5. Maximum period 48 Months. Minimum 3 Guarantors whose Pledged Deposits covers the loan applied. Deductions must be within 1/3 rd. rule. Interest Rate 1.25 % per Month.(15% P.A) Reducing.
Short Term Loan for unforeseen circumstances. Deposit Multiplier by 5. Maximum Period 12 Months. Minimum 3 Guarantors whose Pledged Deposits covers the loan applied. Deductions must be within 1/3 rd. rule, for Checkoff or Maintain Net Salary of at least Kshs. 5,000.00.for those whose salary passes through the Sacco. Interest Rate 1.25 % per month(15%P.A)Reducing
Loan Designed For Household Items.
Deposit multiplied by 4
Maximum period 15 Months.
Atleast 4 Guarantors
Maintain Net salary Atleast Ksh. 3000.
Rate 1.45 % per Month. Fixed Straight Line.
Once against Pending Loan Disbursement.
Maximum Amount 50% Loan Approved.
Rate 5% Amount advanced.
Loan term Loan for Bridging Projects. Deposit Multiplied by 5. Maximum Period 84 Months. Minimum 3 Guarantors whose Pledged Deposits covers the loan applied. Deductions must be within 1/3 rd. rule. Interest Rate 1.25% per Month (15%P.A) Amortized.
Medium Term Loan for Members Who have saved over One Million Deposits. Deposit multiplied by 4. Maximum period 60 Months. Minimum 3 Guarantors whose Pledged Deposits covers the loan applied. Deductions must be within 1/3 rd. rule.. Interest Rate 1 % per Month.(12% P.A) Reducing.
Short Term Loan Designed For Household Items. Deposit multiplied by 7 Salary Must Pass through the Sacco Maximum period 20 Months. Minimum 3 Guarantors whose Pledged Deposits covers the loan applied. Maintain Net salary of at least Kshs. 5,000.00. Interest Rate 1.45 % per Month. Fixed Straight Line.
Loan for retired Members.
Deposit Multiplied by 2.
Maximum Period 84 Months.
Atleast 4 Guarantors/Collateral.
Proof of ability to pay.
Rate 1 % per Month (12%P.A) Reducing.
Loan Designed For Household Items.
Deposit multiplied by 4
Maximum period 10 Months.
Atleast 4 Guarantors
Maintain Net salary Atleast Ksh. 3000.
Rate 1.45 % per Month. Fixed Straight Line.