Insurance Premium Loan Cover
Premium Protection, Flexible Payments
Insurance premium loan cover
Staying protected shouldn’t strain your wallet. With our Insurance Premium Loan Cover, you get the security you need now with the freedom to pay over time. We make it simple, flexible, and stress-free, so you never have to choose between peace of mind and financial ease.
Loan Details
- These will assist members who would like to pay Insurance premiums covers in Kenya.
- The maximum amount borrowed shall not exceed four (x4) times the member’s deposits
- The member will attach the invoice of the insurance company of her preference.
- A non-refundable processing fee of 1.5% shall be recovered from the new loan.
- SACCO will pay the Insurance company directly.
- The maximum period is 12 months.
- The interest rate is 0.33 % per month on reducing balance or 4% per annum on reducing balance.
- Refinancing is not allowed.
- A member cannot have two medical Insurance Premium loans at a time.
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