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Karibu Loan

Product Description

There is need to promote active membership through giving new members the opportunity to access credit before the 6 months of membership period is over.

Product Features

  • Meant for New Sacco members.
  • Focusing on members joining the SACCO who are working with institutions already under check-off.
  • Loan amount is pegged on 1/3 rule requirements.
  • Upon granting of the loan, a 1/4 of the loan granted is transferred to deposits leaving the member with 75% of the loan to withdraw.
  • Maximum Repayment Period is 6 Months.
  • Guarantors required
  • Max- times 2 of gross salary
  • Maximum Facility Kes 500,000
  • Interest rate 1.5%pm