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LOAN APPLICATION
MEMBER PORTAL
LOAN APPLICATION

Loan Security

Loan Security/ Colateral

For a member of the society to qualify for a loan He/she must:- 

  • Guarantors: Incase of any loan default, guarantors are jointly and severally liable.
  • Land and Building Collateral pledge: The property must be owned by the member or a consent given by the registered property owner.
  • Motor Vehicle Collateral Pledge: This constitutes motor vehicles that are not more than 10 years of age from the date of manufacture.

N/B: Upon approval of the loan, the borrower will pay towards the self-insurance scheme and a loan processing fee of Ksh 200/=

CHECKOUT OR LOAN PRODUCTS
LENDING REQUIREMENTS

For a member of the society to qualify for a loan He/she must:- 

Have completed 6 months membership and contributed regularly/consistently

Bulk deposits must remain in the Sacco for at least 6 months to qualify for a loan

The member's loan form must be witnessed

All loans shall be restricted to active members only

The maximum amount of all loans granted to a member shall not exceed three times of the member's deposit but subject to the maximum of 10% of the Sacco's total share capital and reserves

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