Types of Loans offered by the Sacco


This loan is taken to facilitate payment of school fees, could be university, starting or finishing an MBA, your child is Joining form 1, college fees and so forth

  • A member is entitled to 4 times their total deposits at a maximum limit of KES 100,000.
  • This loan is normally disbursed within 24 working hours.
  • Interest rate is 15% per annum on a reducing balance basis
  • School fees Loan is payable within 12 months
  • Only one school fees loan may be granted in one calendar year
  • No refunds on school fees paid shall be done except in exceptional cases
  • Fee structure should be attached on the application form


  • Short Term Loans are taken to take care for unexpected events
  • Short term loans can be at any time of the month and on need basis.
  • It is repayable in 6 months.
  • Interest charged is 1.5 % per month, on a straight line basis.
  • The minimum that can be borrowed is KES 3, 000 while the Maximum is KES 200,000.
  • Disbursed within 2-3 working days.


  • These are loans for development purposes and form the major portion of loans
  • The deadline for submission of Normal Loan Application forms is the 10th of every month
  • Disbursement of the loan is on the 15th days from the loan form submission day (10th of Every Month).
  • Repayment period is 24 months at an interest rate of 1% per month on a reducing balance.
  • Maximum Entitlement is 3 times the member’s deposits.


   Emergency Loan

This is defined to include loans provided to cater for any unforeseen circumstances beyond a member’s control affecting a member directly or his/her immediate family members.
• The total of all outstanding loans, including Education loan, short term loan, long term loan, must not exceed three times a member’s deposit.
• Loan is repayable within 3 months from the time of issue
• Interest charged at 10% on straight line basis
• Member must clear the existing loan before applying for a new emergency loan.
• Emergency loan will be disbursed within 24 hours from the time of submitting loan form


Eligibility for a Loan

A Member and Account Holder shall be considered for a loan only when he or she fulfils the following conditions of the society:

  • Must be above 18 years of age and be of sound mind.
  • Must be a person of high integrity, honest and trustworthy.
  • One must have been a member for at least six months continuous deposits on the minimum monthly contribution.
  • Must have no delinquent loan.
  • A member who withdraws from the society and re-joins later will be treated as a new member
  • Committed to save while meeting the loan obligation.
  • Shall have 2 guarantors
  • The maximum borrowing by a member shall not exceed (To be determined by the committee) of the Society’s total paid up shares/deposits
  • Existing members must have a clean past loan repayment record.
  • All  Board  of  Directors  members’  loans  should  always  appear  in  Board of Directors meetings for approval with the absence of the member who has applied.
  • The loan application form must be accompanied by a copy of National Identification Card (ID) and a copy of the latest month payslip.
  • The Society reserves the right to grant or deny a loan despite the formula based on eligibility