With this type of loan, a member is not given cash but a product that he/she would want the Sacco assist them acquire.
Terms
Loan is multiplied 3 times your deposits less any outstanding loan balance
No processing fee is required
Low interest rate of 2% per month on reducing balance of the product value
Maximum repayment period of 6 months
Requirements
Three current pay slips
Copy of ID
Minimum of 5 guarantors and their ID Copies
