This is a facility for members who have not accumulated enough savings for the loans they require; the SACCO finances their required share deposits on their behalf. There is no ceiling for this loan. Interest rate is 1.16% P.M on reducing balance and repayment period is 48 months.
Effective annual rate for this loan is 7.7%.
Note: You can only boost half of your shares to a maximum of ksh. 200,000.
Ushuru Sacco Paybill