Purpose:
This loan facility enables our members to finance education for themselves and their children
Features:
• The maximum amount is 3 times the member’s deposits
• Interest rate is 1% per month on reducing balance
• Maximum repayment period is 24 months
• Quick loan processing: 2 days maximum
• One-off provision fee: 1%
• One-off processing fee: 2.5%
• One-off institutional capital fee: 0.5% ( Not exceeding kshs 5,000/=)
• Security options: Guarantors’ deposits, member deposits, Fixed deposits
• The Society will issue cheque in favour of the school or college
• Full Sacco membership of at least 3 months and evidence of ability to pay