Addressing the development needs of our members

  • The maximum amount shall not exceed Kshs 9 million, if funds are available, a higher amount can be borrowed. These can be determined by the liquidity of the SACCO.
  • The maximum amount borrowed shall not exceed 4 times the member’s deposits.
  • The repayment period shall not exceed 60 months.
  • The loan shall attract an interest rate of 1 % per month or 12 % per annum on reducing balance.
  • To qualify, the applicant must have been a member for at least 6 months with consistent deposits.
  • A member must show proof of ability to repay the loan per the requirements.
  • Boost monies for the purpose of borrowing must have been in the account for at least 3 months before they can borrow against it.
  • You can refinance normal loan if you have paid for the last 6 months. Refinance fee of 2% on loan balance will be charged.
  • The cost of valuation and administration fee will be catered by the member and will be deducted from the new loan or pay directly to the service providers.
  • 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
  • A defaulter on any previous loan will not qualify for a new loan.