SAVINGS ACCOUNTS
The following are our account products and their requirements:
1. For depositing monthly contributions by members.
Minimum monthly
contribution of Kes. 500.
1. Registration certificate
2. Minutes authorizing to open the account with the
Sacco
3. List of members
4. Share capital Kes. 9,000
5. Minimum opening
balance Kes. 5,
6. Minimum monthly contribution
Kes. 5,000
1. Savings plan for children school fees
2. Minimum monthly contribution Kes.
500
3. Contract term between 5 – 18 years
4. Projected savings insured against
the principal member death and permanent disability.
CREDIT PRODUCTS
For successful loan application, we will need a fully filled and signed application form specifying the type of loan applied for. All loans are secured using flexible collaterals. Original Logbook, Title deeds, Fixed deposit/Share deposit, including a minimum of 3 guarantors. Pleas note the loan details per loan type.
• With this amazing product, borrow and repay within 24 hours at just 1% interest.
• Given at 3 times of a member’s deposits.
• Maximum repayment period of
12 months.
• Interest rate of 1% per month on reducing balance.
• Given at 3 times of a member’s deposits.
• Maximum repayment period of
12 months.
• Interest rate of 1% per month on reducing balance.
• Given at 3 times of a member’s deposits.
• Maximum repayment period of
12 months.
• Interest rate of 1% per month on reducing balance.
• Given at 3 times of a member’s deposits.
• Maximum repayment period of
12 months.
• Interest rate of 1% per month on reducing balance.
•
The applicant is required to attach 2 months original
current pay-slip (not more than two months old to the date of application)
and a copy of National ID card.
• Given at 3 times of a member’s deposits.
• Maximum repayment period of
12 months.
• Interest rate of 1% per month on reducing balance.
•
The applicant is required to attach 2 months original
current pay-slip (not more than two months old to the date of application)
and a copy of National ID card.
This is short term loan to finance delivery of goods ordered. This product is available for business person engaged in supply of goods on regular basis and wait for payment.
Requirements
• Letter of Contractual Agreement between the seller and the buyer.
•Irrevocable letter of Guarantee and Indemnity signed by the buyer.
• Delivery note endorsed by the buyer upon delivery of goods.
• Payments made direct to the seller’s Sacco account.
Lending Criteria
• One-month short term loan.
• Loan given 3 times of the savings.
• Full loan amount deducted from payment made to the seller’s Sacco account.
• Interest rate of 1 percent.
• Given at 3 times of a member’s deposits.
• Maximum repayment period of
24 months.
• Interest rate of 1% per month on reducing balance.
•
Principle security being the asset financed. Boda boda
logbook to be retained as security.
• Given at 3 times of a member’s deposits.
• Maximum repayment period of
36 months.
• Interest rate of 1% per month on reducing balance.
• Given at 3 times of a member’s deposits.
• Maximum repayment period of
36 months.
• Interest rate of 1% per month on reducing balance.
•
Loans secured by chama members guarantees.
• Given at 3 times of a member’s deposits.
• Maximum repayment period of
48 months.
• Interest rate of 1% per month on reducing balance.