Purpose
Emergency loans enable our members to pay for emergencies e.g. hospital bills.
Features:
• Qualifying loan is 3 times member’s deposits
• Quick loan processing: 1 day maximum
• One-off processing fee: 2.5%
• One-off insurance fee: 0.5%
• One-off institutional capital fee: 0.5( Not exceeding kshs 5,000/=)
• Interest rate of 1% per month on reducing balance
• Maximum repayment period is 12 months
• Security options: Guarantors’ deposits, member deposits, Fixed deposits
• Full Sacco membership of at least 3 months and evidence of ability to pay