Consolidation Loan

Product Description

Members are allowed to consolidate all or some of their loans and service them as one thus allowing them to apply for more funds through other types of loans.


  • Qualifying loan is 3 times a member’s deposits subject to a maximum amount of Kshs. 12,000,000.
  • One must have a maximum loan balance equal to or less than Kshs. 1,000,000, and also have a running Normal Loan in order to consolidate other loan products.
  • Full Sacco Membership of at least 6 months.
  • Maximum loan period is 72 months.
  • Interest is charged on reducing balance at 1% per month for loan repayable within a period of 1 to 48 months or 1.1% per month for loan repayable over a period of 49 to 72 months.
  • Processing fee of 2% of the consolidated loan balance or Kshs.1, 000, whichever is higher, and Excise Duty of 20% on the processing fee is charged.
  • Security options: Guarantors’ deposits, member’s own deposits, motor vehicle logbook, Kentours Housing land title deed, life assurance policy.
  • Evidence of ability to repay: Latest pay slip.
  • Approved within 7 working days.