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 up to 90% of their free share deposits as a self-guaranteed loan.
- Maximum Ksh.30 Million.
- Monthly interest rate of 1% per month on reducing balance
- Maximum Repayment period of 84 months.
- Processing fee 0.85%.
- Insurance 0.5%.
- 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 up to 3 loans of this kind at a time.