Deposit Boosting Loan
The loan is aimed at increasing a member’s deposit in order to qualify for a loan.
• Maximum boosting amount: 50% of member’s current deposits.
• Application for boosting must be accompanies by a loan application.
• A member does not qualify for boosting if taking a self guarantee loan.
• The boosted amount will be charged 5 % one off interest recovered in full when paying out the new loan.
• The boosted deposit will earn interest on deposit at the end of the year.
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 |
