AEA Plaza, Valley Road
+254 709 136 000
Mon - Fri 08.00 - 05.00

This is an advance designed to enable members of the Chama, who are also members of the Sacco to get a quick loan for their individual personal development/projects.

Chama chapchap appreciates that as members save together, they also excel individually to enhance their economic and social well being.

Features

  • Advance size-maximum KShs.500,000
  • Tenor-maximum 24 months
  • Interest Rate: 1% per month on Reducing Balance
  • Security: Guarantee by the Chama (Personal and Chama guarantee)
  • Cash cover (Chama deposits put into lien with the same amount)
  • Chama can cover 100% or a minimum of 50% for the member and member covers the balance
  • Member must demonstrate ability to pay

Requirements

  • Chama registration certificate
  • History of consistent monthly savings in the Chama Account used to determine ability
  • Chama MUST have operated account for 6 Months
  • MUST be an active member for the last 6 Months
  • CRB history of Chama and its officials
  • Recovery through Chama Account
  • Direct payments allowed

Our Mission

To empower members economically by providing quality financial services through prudent mobilization of resources and excellent customer care.

ACTIVE MEMBERS
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