Emergency Loan

This covers unforeseen contingencies like sudden hospitalization, funeral expenses, court fines, and other unforeseen circumstances beyond a members’ control, but shall not include house rent dues or other loans covered by the sacco.

Has 12 months’ repayment period.

Applicant must have been member for least 6 months’ membership and can only qualify 2 times their deposit.
The interest rate shall be 1 % per month on reducing balance or as may be determined by the BOM from time to time.
The maximum amount is Ksh 100,000.
Only one emergency loan shall be granted at a time.
Evidence of the emergency must be produced during application.
Appraisal fees of 0.5%shall be charged on the approval loan.
Turnaround is within 48hours after approval.