Emergency Loan
Product Description
These are loans provided to cover emergency situations such as accidents, hospital bills, court fines, etc.
Members are assured of financial help in the event of unforeseen circumstances.
Members are assured of financial help in the event of unforeseen circumstances.
Features
- Qualifying loan is 3.5 times a member’s deposits subject to a maximum amount of Kshs. 1,000,000.
- Full Sacco membership of at least 6 months.
- Maximum loan period is 24 months.
- Interest is charged at 1% per month on reducing balance.
- 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 3 working days.
