School Fees Loan
Caters for primary and secondary fees.
• Maximum Amount: 3.5 times member’s deposits.
• Maximum period: 12 months.
• Interest charged: 1% p.m. on a reducing balance (6.5% p.a.).
• Loans security accepted: guarantors.
• The fee structure should be attached.
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|