Medical Cover Loan
Care without compromise, support when it matters
Ease the burden of your medical bills
Your health is your wealth, and in times of need, having support can make all the difference. Our medical cover loans are here to ensure you never have to compromise on care when it matters most, because peace of mind is priceless
Loan Details
These will assist members who would like to take medical cover for their family and relatives who reside 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.
- The SACCO will write cheque to the insurance company.
- The maximum period is 36 months.
- The interest rate is 1% per month on reducing balance or 12 % per annum on reducing balance.
- The maximum amount is Kshs 1,000,000.
- You cannot have two medical loans at a time.
- Refinancing is not allowed.
- 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
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