members portal

Products

Savings Products

  • Member Deposit

    Putting aside money for your children’s bright future is a valuable step that can help ensure they have the resources they need for education, personal development, and financial stability!

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  • Junior Account

    Putting aside money for your children’s bright future is a valuable step that can help ensure they have the resources they need for education, personal development, and financial stability!

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    Loans Products

    To qualify for a loan, a member shall;

    • Have completed at least 6 months of membership 
    • Ensure contributions have been consistent for at least 3 months prior to the loan application
    • Ensure that deposit contributed in lump sum for the purpose of taking a loan have been in the society for at least 3 months
    • Demonstrate ability to repay the loan

     

    Other Considerations;

    • A member who withdraws from the society and rejoins later will be treated as a new member for the purpose of the lending policy.
    • A member who transfers shares from another society will only be eligible for a loan after 3 months.

     

    All loans shall be insured by a reputable insurance company against death or permanent disability.

    • Normal loan

      Up to 3 times members savings, 1% interest rate per month on reducing balance. 36 months repayment period.

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    • Emergency loan

      Loans given to Carter for unseen emergencies. Interest rate of 1.5% per month on reducing balance, processed in 24hrs. Repayable in 12 months.

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    • School Fees Loan

      This is a type of loan specifically designed to cater for educational expenses for members or their children. Repayable in 12 months interest rate of 1% per month on reducing balance. 

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    • Jipange Loan

      This is an additional loan given to members who are serving another loan. A maximum of Ksh. 100,000, Interest rate of 10% deductible upfront. Repayment period of 6 months.

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    • Super Loan

      4 times members deposit. 1.15% interest rate per month on reducing balance. Repayable in 48 months. Share capital is Ksh 10,000

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    • Vehicle Insurance Premium Financing

      This is a service where Sacco pays for its members’ auto insurance premiums and allows them to pay back in installment for a period of 1yr and 1% interest rate rather than paying a lump sum. 

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