9-Year Fixed Payment Loan

SPECIAL CONSTANT LOAN

Large-Sum Financing with Fixed Predictable Monthly Repayments

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SPECIAL CONSTANT LOAN

Special Financing

Interest Rate 1.083% p.m. on flat basis

Repayment Horizon 108 months (9 Years)

Borrowing Limit Exceeds Regular Loan Limits

Annual Equivalent 13.0% p.a. Flat

Product Name

SPECIAL CONSTANT LOAN

Interest Rate

1.083% p.m. on flat basis

Repayment Period

108 months (9 Years)

Security / Multiplier

Exceeds Regular Loan Limits

Purpose & Description

The purpose of a special constant loan in a SACCO is to provide a way for a member to borrow a large sum of money that exceeds their regular loan limit, while still making a single constant (amortized), consistent, and manageable monthly repayment on both the principal and interest. This product is designed for members who need significant funds.

Features & Qualification Criteria

The following are the exact mandatory specifications for SPECIAL CONSTANT LOAN:

i) Monthly repayment amount remains constant (amortized flat basis).

ii) Applicant must be a SACCO member.

iii) A third of the basic salary should remain after all the deductions.

iv) At least four (4) guarantors and one (1) witness required.

v) Two latest original pay slip.

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

Frequently Asked Questions

Can I borrow beyond standard caps?

Yes! This facility allows borrowing beyond standard caps with a single predictable monthly repayment.