Purpose
The product is designed to assist members to meet urgent financial obligations and is processed within 1 hour.
Features:
• The maximum amount is pegged on a member’s ability to pay
• 1 hour (Instant) loan processing period
• Maximum repayment period is 3 month
• Security options: Guarantors’ deposits, member deposits, Fixed deposits
• Interest rate is 6% per month on reducing balance
• No processing charges
• Full Sacco membership of at least 3 months and evidence of ability to pay
• Minimum amount shall not be less than Kshs 10,000/=
.