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PIONEERS LOAN

Pioneers loan

 

  1. Purpose of loan
  • Designed for retired members who wish to continue with SACCO membership.
  1. Maximum Amount
  • Deposits multiplied by 2
  1. Maximum period
  • 36 Months

 

  1. Loan Security
  • At least 4 guarantors whose deposits adequately cover the loan applied. Or acceptable collateral.

 

  1. Other Conditions
  • Proof of ability to pay through other sources of income.
  • 0.75% Insurance fee.
  • Applicant to meet additional insurance premium if any,

 

  1. Interest rate
  • 1% per month
  • Interest charged on reducing balance.