Checklist for Loan Applications
Just before you submit that loan application, check the following:
- Members who have saved for three months or more.
- Members who tranfer their deposits from other Saccos will be deemed as a continuing member.
- Fully completed loan application form.
- The applicant signature MUST be witnessed by a member of the Sacco.
- Minimum three guarantors who must be active members.
- Provide Guarantors’ and/ Collateral equal to or more than the loan applied for.
- Employer MUST sign and rubberstamp the application form.
- A most current pay slip certified by the applicant’s employer’s payroll officer, MUST be attached to the application
- KRA Pin certificate and a copy of an acceptable form of identification (National ID/Valid Passport) MUST be attached to the application.
- All loans should not exceed three times of the deposits (with exception of Motor Vehicle & Machinery and Instant loans).
- All loans are insured against death and permanent. The premium is paid from the loan applied.
- Maximum loan ceiling is Kshs: 15,000,000.
- All deductions should not exceed 2/3 of gross salary.
Watch Our Video
Normal Development Product on offer starting from 1st October 2017 to ...
Save or borrow? If you want to buy something which you can’t afford...
In Kenya it’s either you save your money in a SACCO, a Bank or purch...
Woodlands road, Opposite IFRC
P.o Box 10454 00100
Tel 254 020 2733601/3
Mobile + 254 0724 310 626 | 0714 611495 | 0735 000012 | 0731 000196