WATER TANK LOAN
We give water tanks to our members at reasonable prices.When you need a tank you pay a third of the total cost of the tank plus buy sacco shares of Ksh. 2000. We bring the tank home and you continue paying the balance for a period of one year
CREDIT RULES
- To qualify for a loan, an applicant must have completed three months membership or such other period as the Board may determine from time to time.
- Applicants may be required to attach supporting document as proof of project viability.
- Applicants must attach 2 recent original payslips or any other documents as a proof of ability to repay the loan applied
- Loans will be repaid from a member’s salary or from members other incomes and no member will be subjected to deductions in excess of 2/3rds rule of his monthly salary or Where total deductions exceed two-thirds of a member’s salary. The loan shall be reduced accordingly.
- The total of all outstanding loans, including emergency, must not exceed 3 times an applicant’s deposit.
- Only one development loan shall be granted at a time.
- Every loan must be guaranteed
- Other securities such as land, cars, shares, insurance policies and share certificates may be pledged as security.