Long-Term Mega Project Facility

DEVELOPMENT LOAN

Transformative 8-Year Capital Loan for Land, Housing & Agribusiness

Calculate Monthly Installment

DEVELOPMENT LOAN

Development & Wealth Creation

Interest Rate 1.2083% p.m. reducing balance

Repayment Horizon 96 Months (8 Years)

Borrowing Limit Up to 5X Member's Deposits

Annual Equivalent 14.5% p.a.

Product Name

DEVELOPMENT LOAN

Interest Rate

1.2083% p.m. reducing balance

Repayment Period

96 Months (8 Years)

Security / Multiplier

Up to 5X Member's Deposits

Purpose & Description

Development loan is for members to finance major projects, such as purchasing or building a house, buying land, starting a business, or large-scale farming. It is a long-term loan designed to help members invest in assets that increase their earning capacity and promote personal growth.

Features & Qualification Criteria

The following are the exact mandatory specifications for DEVELOPMENT LOAN:

i) A person should have saved with the Sacco for at least six months.

ii) Loan amount determined by member's net pay.

iii) One-third (1/3) of basic salary should remain after all deductions.

iv) Loan amount up to five (5) times member's deposits.

v) Provide Four guarantors and one witness.

vi) Provide two latest original pay slip.

vii) Monthly repayments commence not later than the month following disbursement.

Frequently Asked Questions

What is the maximum borrowing multiplier?

You can borrow up to five (5) times your accumulated deposit balance.

What is the repayment duration?

Up to 96 months (8 full years) of flexible monthly deductions.