Preferential Loan

Terms and conditions

  • Member for at least 6 months
  • Deposits are multiplied by 4
  • Forfeit cash payment of dividends and interest for 3 consecutive years
  • A copy of current pay slip or bank statement for computation of disposable income
  • Minimum of 6 guarantors, guarantor must be members of the Sacco should not have guaranteed more than 5 loans.
  • Repayable in 72 months
  • Interest rate of 1.8% per month on reducing balance