Consolidated Loan
One loan, one focus, one step closer to financial freedom
Combine all your loans and pay them off at once
Managing multiple loans can feel overwhelming, but it doesn’t have to be. With our consolidated loans, we simplify your financial journey by bringing everything together into one manageable solution. Enjoy the ease, clarity, and control you deserve, because peace of mind is priceless.
Loan Details
A consolidated loan is designed for a member who has existing loan balances but due to limited income, is unable to take an additional independent loan. Thus, their only option is to ‘consolidate’ their previous loans with the new loan, such that the new loan repayment amount remains more or less the same as the initial repayment(s).
- Once loans are consolidated they become Development loans.
- You will be eligible for a loan of up to four times (x4) your current total Main Savings Account contributions.
- The amount borrowed shall not exceed Kshs.9 Million.
- A consolidation fee of Kshs 2% will be charged on consolidated loan balances.
- Interest is charged at 1% per month or 12% per annum on reducing balance.
- The repayment period shall be a maximum of 84 months
- A non-refundable processing fee shall be recovered from the new loan as follows:
- 1.5% for loans below Kshs 9 million and
- 2% for loans above Kshs 9 million
Build Your
Financial Future
Key Benefits
Low interest rates of upto 1.17% on loans reducing balance
Great interest rates on your savings of upto 7% p.a.
Borrow upto 5x your savings amount
Extended repayment periods of upto 84 months