The new re-engineered Project Loan has the following features:
- Loan granted four (4) times of member total deposits.
- Interest rate is 1.17% per month or 14% per annum on reducing balance.
- Maximum repayment period 30 months.
- Maximum loan of Kshs.1,000,000.00.
- Available to payroll based members only.
- Loan must be fully guaranteed.
- Remittances from employer MUST be up to date.
- Available to members with existing long term loans or Top Up loans and performing.
- Recovery within 1/3 rule of the basic salary.
- Loan attracts 1.5% of the approved amount.
