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.
- 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