Long-Term Asset & Development Facility
SUPER NORMAL LOAN 2
High-capacity long-term credit solution repaid over up to 72 Months at 1.417% p.m. reducing balance for purchasing assets, business investments, or major commitments.
SUPER NORMAL LOAN 2
Long-Term Asset Financing
Interest Rate
1.417% P.M.
Repayment Horizon
Up to 72 Months
Balance Type
Reducing Balance
Guarantors
4 Guarantors + 1 Witness
Product Name
Super Normal Loan 2
Interest Rate
1.417% P.M. (Reducing)
Repayment Period
Up to 72 Months
Security Requirement
4 Guarantors & Pay Slips
Purpose & Description
The purpose of this loan is to provide long-term financial solution to a member, the Super Normal Loan offers extended repayment terms and high borrowing potential for investing in a business, purchasing assets, or handling personal financial commitments.
Features & Qualification Criteria
The following are the exact mandatory specifications for SUPER NORMAL LOAN 2:
i) A long-term facility granted for repayment period (up to 72 Months).
ii) Applicant must be a SACCO member.
iii) Reducing Balance interest rate of 1.417% per month.
iv) A third (1/3) of the basic salary should remain after all the deductions.
v) Provide at least four (4) guarantors and one (1) witness.
vi) Provide two (2) latest original pay slips.
vii) Monthly repayments commence not later than the month following disbursement.
Frequently Asked Questions
What is the maximum repayment duration for Super Normal Loan 2?
Super Normal Loan 2 provides an extended repayment period of up to 72 months (6 years), offering affordable and manageable monthly deduction schedules.
How is the interest charged?
The loan is charged at 1.417% per month on a reducing balance basis, meaning the interest paid decreases each month as you pay down the principal amount.
What security and documentation are required?
Applicants must provide at least four (4) active SACCO member guarantors, one (1) witness, two (2) latest original pay slips, and verify that at least one-third of their basic salary remains after all payroll deductions.
Apply for SUPER NORMAL LOAN 2
Please Visit Chuka University SACCO to Apply
To apply for the Super Normal Loan 2, please visit our Chuka University SACCO Main Office to complete the official loan application form and submit your supporting documents (4 guarantor pledges & 2 latest original pay slips) with our credit desk.
Office: Chuka University SACCO Offices, Main Campus
Telephone: +254 772 689 460
Email: This email address is being protected from spambots. You need JavaScript enabled to view it.