Premium Loan.

Eligibility & Target group.

Pegged on three (3) times members savings.
Sacco member with three (3) months saving history.
This product is available to both individual members and groups.
Ability to repay established by the loans officer through appraisal.

Loan Purpose.

The product is designed to enable the members access funds to handle capital intensive project, which may include purchase of assets and so on.

Repayment Period.

Members enjoy a maximum repayment period of Seventy Two (72) Months.
However this is dependent on the Amount applied, as specified below;
1. Premium 1 - 3 to 6 Million - 48 Months
2. Premium 2 - 6 to 15 Million - 68 Months
3. Premium 3 - Above 15 Million - 72 Months

T.A.T

The turn around time is within 2 weeks. Where securities are involved this may take up to 2 months.

Maximum Amount.
50,000,000.00
Interest Billed Monthly
Members get 30 days grace period to start the loan repayments.Members get 30 days grace period to start the loan repayments.
Loan Form.