This loan type is based on one’s deposit and/or guarantor’ deposits.
- This is a type of a loan secured by 90% of one’s deposits.
- Loan interest rate is 1.08% or 1.28% on a reducing balance.
- A member has to be active for at least three consecutive months and has paid minimum share capital
- Security is 90% of guarantors’ total deposit who must be active (A member can use any other savings product held within the SACCO).
- Loanees ID copy