a) Normal/Development Loan
This product is given to enable members acquire/develop property.
i. Pegged on 3 or 4 times of the borrower’s normal shares, with the latter’s interest on deposits (dividends) being capitalized for 4years.
ii. This loan is repaid up to a maximum period of seventy-two (72) months.
iii. Interest shall be charged on the loan at a rate of one percent (1%) per month on a reducing balance
iv. Ceiling on any amount loan advanced to a member is four million Kenya shillings (KSh. 4,000,000).
v. Loan application must be supported by the member’s latest two (2) pay slips.
vi. The loan must be fully secured by at least three (3) guarantors.
vii. Processing fee of one percent (1%) shall be charged on the loan disbursed.