Mobi Loan

Purpose

This loan is designed to meet emergency needs of our members.

Features:

  • Maximum loan is 10% of members deposits or KES. 100,000/=, whichever is higher.
  • Interest rate is 7.5% per month.
  • The registered members can borrow and repay their loans via mobile phone platform.
  • Maximum repayment period is 3 months.
  • Security options: Member deposits.
  • The Mpesa transfer rates are borne by the member.
  • Full Sacco membership of at least 6 months and evidence of ability to pay.