Members can apply for a main loan with the following features.
Main loan – 48 months (4 years)
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- Deposits – Main deposits
- Share multiplier – main deposits x3
- Interest rate – 1% amortized
- Minimum monthly contribution – Kshs 1,000
- Minimum guarantors – 8
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Refinancing Rates
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- Year 1 – 10% of the loan balance
- Year 2 – 7.5% of the loan balance
- Year 3 – 5% of the loan balance
- Year 4 – 1% of the loan balance
Main loan – 60 months (5 years)
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- Deposits – Main deposits
- Share multiplier – main deposits x 3
- Interest rate – 1.125% amortized
- Minimum monthly contribution – Kshs 3,500
- Minimum guarantors – 8
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Refinancing Rates
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- Year 1 – 10% of the loan balance
- Year 2 – 7.5% of the loan balance
- Year 3 – 5% of the loan balance
- Year 4 – 2.5% of the loan balance
- Year 5 – 1% of the loan balance
All main loan application forms received in the SACCO office will be assessed to confirm whether they meet the necessary loaning conditions after which they will be paid immeadiately.
Note: Only one main loan can run at a time