Development loan shall be granted on the following conditions:

• The rate of interest shall be One percent (1%) per month on reducing balance basis.
• Maximum repayment period will be as follows.

Up to Kshs. 1 M                                       –           48 Months

Above Kshs. 1 M – Kshs. 3M                 –           60 Months

• The maximum amount that can be granted will not exceed Kshs. 3 Million.
• Minimum savings to qualify for loan shall be saved for at least six months.
• In case of default to pay, a penalty of five percent (5%) per month of the amount defaulted shall apply.
• Loan processed within one month
• The loan must be fully guaranteed.
• Loan form must be in the society’s office on or before the 10^th day of the month in which the loan is required.