LENDING CONDITIONS

Loan eligibility: to qualify for a loan a member has to save for 6 months with exception of Karibu Loanwhich require 2 months active membership.

Loan processing fees: Long term loan 0.5% on amount applied. Short term loans 1% on amount applied.

Loan Insurance: 1.25% on loan amount applied.

Both loan processing and insurance fees are recovered upfront.

Normal loan

• Up to 3 times member deposits
• Interest rate at 1.0% p.m. on reducing balance
• Repayment period maximum 48 months

Bahari loan

• Up to 4 times member deposits
• Interest rate at 1.5% p.m. on reducing balance
• Repayment period maximum 96 months

Home Development loan

• Up to 3 times member deposits
• Interest rate at 1.5% p.m. on reducing balance
• Repayment period maximum 60 months

Top up on Bahari, Normal & Home Development loans. Qualify after repayment up to half the outstanding balance. Premature top up attracts a 2.5% commission charged on interest waived.

Emergencyloan

• Up to 2 times member deposits
• Max Kshs. 300,000.00
• Interest rate at 1.5% p.m. onon reducing balance
• Repayment period maximum 12 months
• Processed within 24 hours

Instant loan

• Maximum amount Kshs. 60,000.00
• Interest rate at 10% on loan
• Repayment period maximum 6 months
• Processed within 1 hour

Asset financing

• Up to 2 times member deposits
• Interest rate at15% on the cost of Asset
• Repayment period 48 months.
• This includes: water tanks, laptops, iPhone, iPads, cookware's, solar, jikos, household electricals, Eletric-Motorbikes.

School Fees Loan

• Maximum amount Kshs 300,000.0О
• Up to 2 times member deposits
• Interest rate at 1% p.m. reducing balance
• Repayment period 12 months.

Karibu Loan

• To newly recruited members who must have contributed for at least 2 months through
• Maximum check-off amount Kshs 200,000.00
• Interest rate at 1.5% p.m. reducing balance
• Repayment period 36 months.
• 35% of the amount applied is retained to boost deposits

Okoa loan

• Maximum amount Kshs. 20,000.0О
• Interest rate at 10% on loan applied.
• Repayment period 2 months.
• Processed within 1 hour