Loans At the Sacco
1. Normal Loans
To apply for a Normal loan, you need the following:
- Fully filled Loan Application Form.
- Guarantors to cover the amount.
- Collaterals if any.
You can borrow up to 3 times your savings/ shares.
Repay monthly @ 1% interest on reducing balance.
- We allow members to use dividends to back up their loan application
- We allow churches to use session letters as guarantee/ collateral for the loan.
- We accept Title deeds valued at 100% of the land value, must be within municipal towns and with current search for individual or group loans.
- We accept Log books valued at 60% of the car value for collateral to cover individual loans.
2. Emergency Loans
To apply for an Emergency loan, you need the following:
- Fully filled Loan Application Form.
- Guarantors to cover the amount.
- Collaterals if any.
You can borrow up to 3 times your savings/ shares.
Repay monthly @ 1% interest on reducing balance.
Processed quickly to help you out on emergency.
For school fees, we pay directly to the institution within 1 week.
- We allow members to use dividends to back up their loan application
- We allow churches to use session letters as guarantee/ collateral for the loan.
- We accept Title deeds valued at 100% of the land value, must be within municipal towns and with current search for individual or group loans.
- We accept Log books valued at 60% of the car value for collateral to cover individual loans.
3. Super Loans
To apply for a super loan, you need the following:
- Fully filled Loan Application Form.
- Guarantors to cover the amount.
- Collaterals if any.
You can borrow up to Kes 3,000,000.00.
Repay in 6 months @ 8% interest on reducing balance.
You are eligible for this loan if your super save deposits are more than Kes 500,000.00 and you have been registered and active in our sacco for 6 months.
- We allow churches to use session letters as guarantee/ collateral for the loan.
- We accept Title deeds valued at 100% of the land value, must be within municipal towns and with current search for individual or group loans.
- We accept Log books valued at 60% of the car value for collateral to cover individual loans.