This loan combines a member’s normal or property loan and all other existing loans into one loan so as ease their financial obligations.
• Member must have an existing normal or property loan.
• Must have repaid the original normal/ property loan for at least half its period or half of the principal amount.
• A 5% one-off interest will be charged on the bridged loan amount.
• The bridged amount shall be recovered in full from the proceeds of the new loan.
External Lumpsum Deposits Waiting Periods
A member who wishes to top up a lump sum amount to their member deposits account with the intention of borrowing a loan will be subject to the following waiting periods:
|LUMPSUM AMOUNT (KES)||WAITING PERIOD|
|500,000 and below||Zero waiting period|
|500,001 to 2 Million||30 days|
|Above 2 Million||60 days|