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
Powered by BreezingForms
We have three positions for elections in the Board and one position in...read more
Have the fluctuating interest rates negatively impacted your pocket? ...read more
· Access M-Kimisitu loan, 80% of your deposits to a maximum of Ksh 60...read more
Woodlands road, Opposite IFRC
P.o Box 10454 00100
CALL CENTER: +254 709 136 000