Access flexible and affordable loan options tailored to your requirements. Whether for personal goals, business ventures, or emergencies, we’ve covered you.
Every member is eligible to get a loan after serving for three months. There are eight types of loans, all depending on the member’s capacity to repay through the pay slip.
- INVESTMENT LOAN
Loan granted to a member for their welfare. Members can get a maximum of twice their shares to 10% of total SACCO shares. The maximum repayment period is 30 months. Its interest rate is 4% per month, reducing the balance.
- EMERGENCY LOAN
Loan granted to a member when they have an emergency. Its maximum is 75% of the member’s shares and does not exceed MK500,000.00. The Maximum repayment period is ten months. Its interest rate is 4% per month, reducing the balance.
- SOME MORE LOAN
Loan granted to a member after having Investment and emergency loans. Its maximum is MK200,000.00. The Maximum repayment period is two months. Its interest rate is 20% per month. A loan is based on the payroll capacity of a member.
- TSOGOLO LAWO LOAN
Loan granted to a member for education purposes. Member is required to save 10% of the loan amount before disbursement. The maximum amount is 200% of savings. Where inadequate protection, adding up to 100% of shares is used. The maximum repayment period is six months. It is paid directly to the school. Its interest rate is 4% per month, reducing the balance.
- MATERIAL LOAN
Loan granted to members to procure production and household materials such as Fertiliser, GOtv, mattresses, etc. The interest rate is 4% monthly, payable in 10 months. The maximum amount to be applied depends on the cost of the item being sought.
- SPECIAL ENTERPRISE LOAN
Loan granted to members for capital requirements such as property, Business startup, motor vehicle, etc. Member should have 1 million worth of shares for six months. The maximum repayment period is 36 months. The interest rate is 4% per month, reducing the balance.
- MUZIONA LOAN
Loans are granted to members to enable them to have enough cash to use for various purposes. It can be repaid in 4 instalments at a monthly interest rate of 4%, reducing the balance.
- THANDIZO LOAN
Very flexible loans are granted to members to enable them to solve their financial challenges. Its maximum is MK200,000.00. The Repayment period is three months. Its interest rate is 2.5% per month, reducing the balance. A loan is based on the payroll capacity of a member.