This is a long-term loan given to members based on their ability to pay. The SACCO does not base the approval of the Loan to member’s deposits.

Requirements

1. Loans are repaid within a period of 60 months.
2. Interest charged is 1.5% per month on reducing balance method.
3. Loan application must be supported by members latest pay slips.
4. The Loan must be fully secured by guarantors.
5. Loan processing fee of 1% shall be charged on the Loan amount approved.
6. Loan insurance of 1% charged on the Loan amount approved.
7. Form fee of ksh 50 will be charged on all loan products, which may change from time to time.