Normal Loans

• These are loans for development purposes and form the major portion of loan
• Disbursement is within 15 days from the date of application provided all documents are available.
• Repayment period is 36 months at an interest rate of 1% per month on a reducing balance.
• Maximum Entitlement is 3 times the member’s deposits.
• The Maximum limit is KES 100,000 (for the 1st year)

School Fees Loan

• This loan is taken to facilitate payment of school fees, could be university, starting or finishing an MBA, your child is Joining form 1, college fees and so forth
• A member is entitled to a maximum limit of KES 50,000
• This loan is normally disbursed within 7 days.
• Interest rate is 1% per month on a reducing balance basis
• School fees Loan is payable within 12 months
• Only one school fees loan may be granted in one calendar year.
• No refunds on school fees paid shall be done except in exceptional cases.

Emergency Loan

This Loan facilitates any unseen circumstances for example; sudden hospitalization, funeral expenses, court fines, and other unforeseen circumstances beyond our members’ control.

• Emergency loans are given at a maximum limit of KES 30,000
• This Loan is granted to a member even though he/she has an outstanding loan.
• This is payable within 12 months at an interest rate of 1% per month on a reducing balance
• Emergency Loans are disbursed within 3 days

Asset Financing

This  facility  has been introduced to help members acquire various assets for example Motor Vehicles, Posho mills, Engines, Pumps and Excludes heavy commercial vehicles, and commercial vehicle specifically ‘matatus’

• Interest chargeable is 1.5% per month.
• Financing options is 65% of the value for new assets and 55% of the value for used assets.
• The term of the loan is up to a maximum repayment period of 36 months.
• The member will be required to pay for the transactions costs which include joint registrations and other incidental costs like processing and legal costs.
• Members are entitled a maximum of 4 times their savings.
• The asset being acquired will be used as Security of the loan; 65% for new assets and 55% if the asset is used.

A member can have a normal loan, an asset loan, plus all other loans so long as the cash flow can support.