Purpose
This loan facility enables members to complete their development projects by consolidating existing loans to create room for more while stretching the repayments.
Features:
• Qualifying loan is 3 times member’s deposits
• Interest rate is 1% per month on reducing balance
• Maximum repayment period is 72 months
• Security options: Guarantors’ deposits, member deposits, Fixed deposits, Property
• Quick loan processing: Up to 4 days and 4 weeks where property is collateral
• 1% once off refinancing fee applies
• Full Sacco membership of at least 3 months and evidence of ability to pay