Super Development Loan

Purpose

This loan is expected to meet members development needs.

Features:

  • Total outstanding loans must not exceed 3 times member’s deposits.
  • This is designed for members who want loans above KES. 1.5 million.
  • Interest rate is 12.5% per annum on reducing balance.
  • Maximum repayment period is 72 months (6 years).
  • Security options: Guarantors’ deposits, member deposits or property.
  • Full Sacco membership of at least 6 months and evidence of ability to pay.