SCHOOL FEES LOAN

To assist members pay school fees for themselves or the relatives

Designed to assist members pay school fees for their relatives in Kenya or in US for various institutions of learning.

  • The maximum amount borrowed shall not exceed four times the member’s deposits.
  • The maximum amount is Kshs 1 million
  • The interest rate charged will be 1% per month on reducing balance or 12 % per annum on reducing balance.
  • Processing fee of 1.5% of the loan will be charged.
  • The loan repayment period shall not exceed 12 months.
  • The member will advise SACCO the mode of payment.
  • You can Refinance Education loan if you have paid for last 3 months.
  • Refinance fee of 2% on loan balance will be charged.