Do you have land that you wish to develop?
- The amount borrowed shall not exceed Kshs. 6 Million; however, a higher loan amount may be approved subject to availability of funds.
- The maximum amount borrowed shall not exceed 3X times the member’s deposits.
- The loan shall attract interest rate of 1% per month on a reducing balance.
- The repayment period shall be a maximum of 60 months.
- You will need to have Sacco escrow account with equivalent of at least three months loan repayment amount. This balance must be maintained throughout the loan duration.
- Pay a non-refundable loan-processing fee of 1.5% of loan amount.
- A member is entitled to another type of Loan only if the three times deposit rule could apply.
- You can top up after 12 months of repayment.