Personal and Household loans

Personal and House Loans cater for a member, who wishes to improve his/her home,
pay school fees/tuition etc.
Main features and requirements
-The maximum amount of loan granted to a member shall not exceed two (2)
times the member’s savings.
– The maximum limit for a personal and Household loan shall be shs 15,000,000/=.
-Repayment period for personal and household loans shall not exceed 36 months.
-Every member applying for a development Loan must have completed repaying
all other loans at the time of application.
-Repayment frequency is monthly.
– Interest rate for the loan is at 10.8% per annum on flat rate.
– 5% Loan processing fee.
– 2% Insurance on all loans against death and disability.

Assets acquisition loans

Asset acquisition loans enable members of the Society to purchase business and household assets including vehicles, building etc

 Main features and requirements

  • The maximum amount of loan granted to a member shall not exceed two (2) times the member’s savings.
  • The maximum limit for Asset Acquisition loan shall be shs 15,000,000/=.
  • Repayment period for Asset Acquisition loan shall not exceed 36 months.
  • Every member applying for a development Loan must have completed repaying all other loans at the time of application.
  • Repayment frequency is monthly.
  • Interest rate for the loan is at 10.8% per annum on flat rate.
  • 5% Loan processing fee.
  • 2% Insurance on all loans against death and disability.

Agriculture loans

Agricultural loans may be granted to a member who wishes to improve crop and animal production. This involves purchase of insecticides, irrigation systems, fertilizers etc.

Main features and requirements

  • The maximum amount of loan granted to a member shall not exceed two (2) times the member’s savings.
  • The maximum limit for Agriculture loan shall be shs 15,000,000/=.
  • Repayment period for Agriculture loans shall not exceed 36 months.
  • Every member applying for a development Loan must have completed repaying all other loans at the time of application.
  • Repayment frequency is monthly with one month grace period if requested by the client.
  • Interest rate for the loan is at 10.8% per annum on flat rate.
  • 5% Loan processing fee.
  • 2% Insurance on all loans against death and disability.

Business loans

Business loan is granted to a member who wishes to start or finance a business enterprise. Business enterprises include shops, saloons, restaurants, pharmacies, clinics etc.

Main features and requirements

  • The maximum amount of loan granted to a member shall not exceed two (2) times the member’s savings.
  • The maximum limit for Business Loan loan shall be shs 15,000,000/=.
  • Repayment period for Business loan shall not exceed 36 months.
  • Every member applying for a development Loan must have completed repaying all other loans at the time of application.
  • Repayment frequency is monthly with one month grace period if requested by the member.
  • Interest rate for the loan is at 10.8% per annum on flat rate.
  • 5% Loan processing fee.
  • 2% Insurance on all loans against death and disability.

Development Loans

Development loan is designed specifically to assist with purchase, building and assembling in commercial projects

Main features and requirements

  • The maximum amount of loan granted to a member shall not exceed two (2) times the member’s savings.
  • The maximum limit for Development Loan shall be shs 15,000,000/=.
  • Repayment period for Development loan shall not exceed 36 months.
  • Every member applying for a development Loan must have completed repaying all other loans at the time of application.
  • Repayment frequency is monthly with one month grace period if requested by the member.
  • Interest rate for the loan is at 10.8% per annum on flat rate.
  • 5% Loan processing fee.
  • 2% Insurance on all loans against death and disability.