Normal Savings Account
The individual’s normal savings account gives our members the opportunity to save monthly and build a safe accumulation of deposits for desired future use or just a safety net.
Loan Products
The Sacco offers you loan facilities with repayment periods that are flexible between one month and 60 months.-
School Fees Loan
Take a loan to pay school fees or exam fees for yourself or your dependants.
Development Loan/Normal Loan
Granted for productive purposes only and the applicant may be required to attach the supporting documentation as proof of project viability. Six-month consistent contribution and the multiplier is three times the deposits.
TopUp Loan/ Refinancing
A member with an existing development loan is free to top up after having paid 1/2 of the borrowed loan. The society refinances this loan to members to complete their stalled projects.
Asset Financing
Loan granted to members to acquire various assets for home improvement and business growth.
Salary Advance/ E-Advance
Short-term advance – This has a repayment period of two months and an interest rate of 7% per month on a reducing balance. The amount given is 50% on the member’s net pay and is recovered using the check-off system. When applying a member is required to give a copy of the latest payslip, if the amount applied is more than the member’s share contribution then this amount has to be guaranteed.
Long-term advance – This has a repayment period of six months and an interest rate of 10% per month on a reducing balance. The amount given is 50% on the member’s net pay and is recovered using the check-off system. When applying a member is required to give a copy of the latest pay slip and have 3 guarantors who are our members.