Loan Policy


  • A member must have completed at least 6 months and contributed not less than Kshs.9,000 and attributed to a minimum of 1500 consecutively on application.
  • The first security to any loan applied is member savings.
  • All loan forms must be submitted to the office for approval by the credit committee set to take place on every mid and end of every month.
  • A member who withdraws from the society and rejoins later will be treated as a new member for the purpose of the loan policy.
  • Savings contributions paid in lump sum for the purpose of securing a loan must remain in the Sacco for at least 6 months.
  • All loans must be within the entitlement where by the extra amount on top of the savings must be fully guaranteed
  • A member is allowed to have more than one loan provided they are all within the entitlement

Other Regulations

  • The total loan granted by the society will not exceed three (3) times the current member deposit.
  • A loan applicant must have completed six (6) calendar months membership.
  • Our loan repayment period is as specified in each loan product.
  • All loans must be guaranteed by a minimum of two eligible guarantors. The loanees and the guarantors’ shares must fully cover the loan applied for.
  • No member will be a guarantor for more than three loans at any given time.
  • No guarantor will be allowed to resign from the Society unless he/she finds another member to take his/her place as guarantor.
  • All guarantors must attach photocopies of their National ID cards
  • The total number of loans a member can apply will not exceed three times and every loan will be subject to member’s ability to repay.
  • All loans must be repaid within the period given failure to which there will be a charged interest of 20% on extension and this will only cover up to one year