The loan is granted for productive purposes.
- Must have been an active member of the sacco for six months
- Applicant must attach supporting document as proof of project viability.
- Applicant must attach three months most recent original pay slips or other documents
as proof of ability to repay the loan.
- Only one Normal loan shall be granted at a time.
- Repayment period for the Normal loan shall not exceed 36 months
- The interest rate shall be 1% per month on reducing balance.
- Appraisal fees of 0.5% shall be charged on the approved loan or as may be approved
by the sacco management board from time to time.
- Turn around time is within two weeks after approval