Our Loan Services include the following:
- Linked to savings, up to three times of your savings loans from E12 000.00 – E50 000.00 interest at 1.7% on reducing balance loans from E50 000.00 to E150 000.00 interest is 2.0% on reducing balance. Maximum of E150 000.00 revolving at 75% new loan is payable using the same instalment.
- Interest rates is subject to change depending by the economic status.
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80% of Skhula nabo savings, interest is 1.3% on balance, repayment period maximum is 60 months.
- Interest rates is subject to change depending by the economic status.
- Non saving linked product but consider capacity to pay from E6 000.00 to a maximum of E30 000.00 interest at 2.7% per balance payable in 12 months. Insurance is deducted from the money approved.
- Interest rates is subject to change depending by the economic status.
- While waiting for your salary, apply for any amount from E200.00 – E2 000.00 approved instant payable on payday at 8%.
- Interest rates is subject to change depending by the economic status.
- One product that is accessible by new members during waiting period, based on capacity to pay. Minimum of E2 001.00 to maximum of E10 000.00, interest 6% per month payable in 12 months, approved in 24 hours and not linked to savings.
- Interest rates is subject to change depending by the economic status.
- Non linked to savings, based on capacity to pay. Maximum E20 000.00, interest 3% per balance. Approved within 24 hours and loan can be revolved.
- Interest rates is subject to change depending by the economic status.
- This is a Savings boost loan, maximum of E30 000.00 a3.2%. An amount of 33.33% of applied amount is transferred to Ordinary Savings and members account is credited with the balance.
- Interest rates is subject to change depending by the economic status.
When is a member eligible to borrow and what are the requirements?
- After 6 months joining the SACCO provided paid shares of E3 000.00.
- Member can access short loan only while waiting for 6 months to elapse, members whose contributions comes through debit order have a limit of E5,000.00 and those whose deductions are from source can access to maximum amount of E10,000.00.
- Copy of payslip should be attached to every loan application form, to calculate the Statutory 33% of total deductions per employee.
- Submit proof of residence , contract of employment and every loan application goes via ITC VETTING.
- Self-employed Members should submit; Police Tax clearance, 3 Months Bank Statements, proof of residence.
