Lending conditions

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Provide dully filled loan application form
Provide 2 current payslips (consecutive months)
Check-off members’ may also provide alternative sources of income (Bank statement or Mpesa Paybill/Till statement) as proof of ability to repay.
Provide required number of guarantors and/or collateral for loans secured with title deed or logbook
Provide additional supporting documents where required, for example, fees structure, hospital bill.

Provide dully filled loan application forms
Provide 2 current payslips or 6 months certified bank statements
Provide required number of guarantors and/or collateral for loans secured with title deed or logbook
Provide additional supporting documents where required, for example, fee structure, hospital bill.
Provide a commitment letter stating the preferred mode of loan repayment.

Three guarantors- for loans above Ksh100,000
One guarantor for loans of Ksh 100,000 and below, payable in 12 months or less.
Self- guarantee allowed if loan amount is within a member’s deposits and member has not guaranteed others.
A member can guarantee a maximum of 13 loans subject to 3.5 times deposits
Motor vehicles of 10 years and below up to a maximum of 50% of the value.
Land & buildings in urban areas up to a maximum of 70 % of the value.
Only ACTIVE members can guarantee loans.

Loan eligibility – To qualify for a loan, a member has to save for six (6) months with the exception of the Karibu M-cash loan which require 3 months active membership.
Loan processing fee – 1.2% on the amount applied for, inclusive of taxes (excise duty).
Loan insurance – KSh 0.2 (cents) per 1,000 per month (loan period). The insurance covers loan against death or permanent disability. Payable in 12 months.
All LOAN CHARGES – including processing fees and insurance, are deducted from the approved loan amount. The member receives the net amount in their account.