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SACCO ADVANCES

 

Type of advance Period Interest Maximum amount Against
Loan advance Once 2.5% of amount advanced 50% of loan approved Approved loan pending disbursement.
Pre-Salary advance Once

From 15th of every month

10% of amount advanced 50% of actual net salary received previous month Salary through FOSA account
Cheque advance
Once 5% of amount advanced 50% of cheque value deposited Cheque deposit pending maturity
End Year Advance From 10th of every December. 5% of amount advanced  50% of anticipated Interest payout.
 Interest on Deposits payout
Share Deposits advance Once 10% of amount advanced 50% of expected deposits refund Maturity of resignation (60 days)