Have completed at least 6 months of membership and contributed not less than Kshs.100,000
Member Loan Eligibility
To qualify for a loan, a member shall;
Ensure contributions have been consistent for at least 3 months prior to the loan application
Ensure that shares contributed in lump sum for the purpose of taking a loan have been in the society for at least 3 months
Demonstrate ability to repay the loan
Other Considerations
A member who withdraws from the society and rejoins later will be treated as a new member for the purpose of the lending policy.
A member who transfers shares from another society will only be eligible for a loan after 3 months.
The rates of interest on certain loan category shall be determined by the Board of Directors from time to time.
All loans shall be insured by a reputable insurance company against death or permanent disability.
