Members can bridge their loans provided they
have repaid the respective loan for six months and the loan balance is less
than or equal to Kshs. 1,000,000 for Normal Loan and ksh. 150,000 for Instant
Loan.
Features
Qualifying loan amount granted
is as per the type of loan product being bridged
Full Sacco Membership of at
least 6 months.
Maximum loan period is as per
the type of loan product being bridged.
Interest is charged as per the
type of loan product being bridged.
Processing fee of 2% of the
bridged loan balance or Kshs.1, 000, whichever is higher, and Excise Duty of 20% on the processing fee is charged.
Security options: Guarantors’
deposits, member’s own deposits, motor vehicle logbook, Kentours Housing land title
deed, life assurance policy.
Evidence of
ability to repay: Latest pay slip.
Approval period is per the loan
product being bridged.
