EMERGENCY LOAN
Tailored to enable you handle the emergencies that come up time and again
Repayment period is 6-12 months
Interest rate is friendly and competitive.
Product is open to members with the ordinary membership account and Biashara business account.
PRODUCT LOAN
Product enables acquisition of various assets.
Repayment period is 6-12 months
Interest rate is friendly and competitive.
Product is open to members with the ordinary membership account.
EDUCATION LOAN
This loan products are tailored to finance education needs of our members.
Repayment period ranges from 6-24 months depending on one’s ability to service.
Interest rate is friendly and competitive.
Product is open to members with the ordinary membership account.
NORMAN LOAN
This is a self-improvement loan product advanced to enable members engage in income generating activities as a way out of dependency on the paycheck.
The normal loan is most famous for the opportunity it gives the member to re-finance even before completing repayment.
This enables the member to expand operations without having to apply for a new or a different type of loan for that purpose.
DEVELOPMENT LOAN
These are the loans tailored to help you finance your big projects.
Repayment period of this products ranges from 24-48 months.
Interest rate is friendly and competitive.
Product is open to members with the ordinary membership account.
BODA BODA LOAN
This product is tailored to members in Boda Boda business by either acquisition of the motor bike or maintenance of the already existing one.
Repayment is 12 months.
BUSINESS LOAN
Tailored to enable financing of business ventures/expansions.
Repayment period ranges from 6-24 months.
Interest rate is friendly and competitive.
Product is open to members with the ordinary membership account and Biashara business account.
SHORT TERM ADVANCES
This a mobile phone loan issued by the Sacco to her members.
- One must be a Sacco member who has finished at least two months.
- Advance is issued via mobile phone (M-PESA)
- Advance issued should be within a member’s deposits
- Maximum amount for this product is KES 15,000
- Repayment period is 3 months (90 days)
- Interest rate is 5% per month.
- Maximum interest chargeable for the product is 10% where the advance remains unpaid for more than 30 days.
- Advances unpaid for 90 days will be recovered from a member’s deposits and the member will be required to reinstate the amount deducted from deposits to access the product – even any other loan (System flag the a/c).
- In the event of repeated default member will be denied access to the product.
INSURANCE FINANCING LOAN
This facility is offered in partnership with the CIC insurance group for motor private, motor commercial, and other non-motor types of insurance including Medical, Home, Business, and personal accidents.
- Maximum amount – As per insurance premium.
- Maximum period – 6 months.
- Interest charged – 1 % per month straight line
No guarantors are required for motor vehicle financed by the society.
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CONSOLIDATION LOAN
CAR LOAN
INSURANCE FINANCING LOAN This facility is offered in partnership with the CIC insurance group for motor private, motor commercial, and other non-motor types of insurance including Medical, Home, Business, and personal accidents.
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