This loan is granted to our members for their own personal development e.g. buying of land, vehicles, property or any project, house improvement, purchase of listed shares.

Requirements

1. This Loan is repaid up to a maximum period of 72 months.
2. The Society charges an interest of 1 % per month on reducing balance.
3. This loan is pegged on three times of the borrower’s deposits.
4. The member’s latest two pay slips must support loan application.
5. The Loan must be fully secured by guarantors.
6. An insurance fee of 1% shall be 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.
8. A member shall be allowed to run only one development loan.

This is a top up facility on the normal loan. The top up amount requested is treated as a new loan and must be fully secured by guarantors. The requirements of normal/development shall apply. The repayment period shall be within the remaining period of the normal /development loan refinanced.

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.

This product is for the purpose of paying College or University fee only.

Requirements

1. The Member MUST attach fees structure/s on the application form
2. The SACCO may issue Banker’s Cheque in favor of the Institution indicated.
3. The Loans is repaid within a period of 24 months.
4. The SACCO charges an interest of 1.25% per month on reducing balance.
5. The product does not have the upper limit but it is determined by the member’s ability to repay.
6. An insurance fee of 1% shall be charged on the Loan amount approved.
7. Form fee of ksh50 will be charged on all loan products, which may change from time to time.

After repaying any loan(s) for some time, a member may decide to clear an outstanding loan(s) at once, before the scheduled repayment period in order to allow the member to qualify for additional or more loan amount. The following conditions must be fulfilled:

1. Clearance by self; one month interest chargeable.
2. Clearance by a bank; 4% interest chargeable except Super Loan which is charged10% interest.
3. Clearance by Fundilima SACCO through offset from the newly acquired loans is charged 10% interest.

The interest shall be paid either in cash or through offset from the newly acquired loan(s).

These types of loans include popularly known as Yellow and Pink Loans.

Yellow Loan: This is a loan repayable within one (1) month at an interest rate of 5% per month. The requirement is thatit should guaranteed, a copy of the most current pay slip attached and ability to repay and is not pegged to deposits held by a member in the BOSA.

Pink Loans: This is a loan repayable within five (5) months at an interest rate of 25% flat rate.The requirement is that it should guaranteed, a copy of the most current pay slip attached and ability to repay and is not pegged to deposits held by a member in the BOSA.

This product is given to cater for unforeseen happenings beyond a member’s control e.g. for funeral arrangements, medical bill settlement, court fines and others.

Requirements

1. Loans are repaid within a period of 12 months.
2. Interest charged on 1.25% per month on reducing balance method.
3. No member shall have more than one Emergency Loan.
4. The Loan must be fully secured by guarantors.
5. An insurance fee of 1% shall be charged on the Loan amount approved.
6. Form fee of ksh 50 will be charged on all loan products, which may change from time to time.

This product is for the purpose of paying School fee only.

Requirements

1. The Member MUST attach fees structure/s on the application form.
2. The SACCO may issue Banker’s Cheques in favor of the School indicated.
3. School fees Loans are repaid within a period of 12 CALENDER months.
4. The SACCO charges an interest of 1.25% per month on reducing balance.
5. The product does not have the upper limit but it’s determined by the member’s ability to repay
6. An insurance fee of 1% shall be 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.

This is a short term loan that targets members with more disposable income but have less deposits.

Requirements

1. Loans are repaid within a period of 12 months.
2. The Interest rate is at 18% per annum on flat rate.
3. Loan application must be supported by members latest pay slips.
4. The Loan must be fully secured by guarantors.
5. An insurance fee of 1% shall be charge on the Loan applied.
6. There shall be an appraisal fee of 1% shall be charged on the Loan applied.
7. Form fee of ksh 50 will be charged on all loan products which may change from time to time.
8. No member shall have more than one Jiimarishe Loan.

This product is a short term loan which the members gets almost instantly and is not pegged on the member’s deposits.

Requirements

1. Loans are repaid within a period of 1 month.
2. The Interest rate is at 5% and lumped up with the Loan applied.
3. Loan application must be supported by members latest pay slips.
4. The Loan must be fully secured by guarantors.
5. An insurance fee of 1% shall be charged on the Loan applied.
6. Form fee of ksh 50 will be charged on all loan products which may change from time to time.
7. No member shall have more than one yellow Loan at one time.

This product is a short term loan which the members gets almost instantly and is not pegged on the member’s deposit.

Requirements

1. Loans are repaid within a period of 5 months.
2. The Interest rate is at 25% and lumped up with the Loan applied.
3. Loan application must be supported by members latest pay slips.
4. The Loan must be fully secured by guarantors.
5. An insurance fee of 1% shall be charged on the Loan amount approved.
6. Form fee of ksh 50 will be charged on all loan products which may change from time to time.
7. No member shall have more than one pink Loan at one time.