Emergency Loan
Emergency loans are granted 4 times the member’s deposits. They have affordable Interest per month on reducing balance.
Deduction strictly check off. Minimum loan Kshs 50,000 and the Maximum loan to be granted is dictated by ability to repay and subject to the 1/3 rule and 4 times total deposits. The loan is Repayable within 24 months. No documentary evidence is required for emergency loans. The loan is released instantly. Processing fee 2% and Insurance fee of 1.5%.
Top up charges are at 10% for Internal loans and 10% for external loans.
- Interest rates are on reducing balance and charged as follows;
- 50,000 – 100,000
- 100,001 – 200,000
- 200,001 – 300,000
- 300,001 and above
