Members can access loans up to Kshs.500,000 based on the total value of the guarantor’s deposits.
The loan amount can be up to four times the total deposits of the member, providing a substantial borrowing capacity.
A competitive interest rate of 1% per month on the reducing balance. This means that interest is charged on the outstanding balance of the loan, decreasing as the loan is repaid.
The loan is repayable over a period of 12 months, providing a reasonable timeframe for repayment.
Members must have contributed deposits for at least 6 months prior to applying for the loan. This ensures a history of financial activity as proof of ability to repay the loan.
