School Fees Loan

VUMBUA UTAMU WA AKIBA !

The purpose of this product is mainly to assist members pay school fees for themselves or their children

Requirements

All our loan products are accessible by all our members, therefore, you need to be a Sacco Member before you apply for any loan product, you also need to duly complete a loan application form.

Qualifications & Features

» Flexible borrowing options
» The application process is short and simple
» Refinancing during the loan period is allowed
» One has to be a member of the society for 6 months
» Based on members share deposits x4
» Applicable for a maximum amount of Kshs. 240,000
» Maximum Repayment period -12 months
» At least 3 guarantors required to guarantee the loan
» 1/3 rule of basic salary to apply
» Top up is allowed after repaying 50% of the loan 
» Interest rate at 1.5% per month on reducing balance
» Offset commission charged at 10% of the remaining balance
» Bridging fee of 2% charged on offsets of balances above 50% of issued loan
» Turn around period of 14 days is applicable