Development on Mobile Loan
Development on mobile loan is a mobile loan product which allows member to borrow through the phone.
Features
- Member can access upto 90% of their free share deposits as a self-guaranteed loan=.
- Monthly interest rate of 1% per month on reducing balance
- Maximum Repayment period of 84 months
- The Maximum repayment period is 3 months.
- Active membership of up to 3 months
- You must be registered on M-Sacco (Mobile banking platform) to access the loan via *470#.
- A member can access upto 3 loans of this kind at a time.