Loan for Members on Contract Employment, Loan Re-scheduling and Re-financing

Members on contract employment are eligible to benefit from the entire Sacco products subject to the following conditions:

i. The guarantors must be of permanent and pensionable terms.
ii. The loanee shall attach his or her appointment letter.

Loan Re-scheduling and Re-financing

i. To qualify for a top up, the member must have paid the normal and super loan for at least six (6) months.
ii. A commission of five hundred Kenya shillings (Kshs. 500) shall be levied
on the principal balance.
iii. The top up amount requested is treated as a new loan.
iv. The top up loan must be fully secured by guarantors.
v. No re-financing of product and school fees loans is allowed.
vi. No limits for refinancing of emergency loan.
vii. Other terms and conditions of the original loan apply.
viii. Interest shall be charged on the loan at a rate of one percent (1%) per month on a reducing balance