• Enables a member to acquire assets & finance other development projects.
• Maximum Amount – 3.5 times member’s deposits.
• Repayment period – 60 Months.
• Interest charged – 1% p.m. on a reducing balance.
• Loans security accepted: guarantors, title deed, log book.
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|