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SAYE – Save As You Earn

  • It’s an ideal savings plan for holidays, asset acquisition or payment of school fees.
  • The savings attract an annual interest rate of 5% per annum (prorata).
  • Savings can only be withdrawn once on maturity.
  • Members can conveniently make deposits through check-off, direct deposits or Mpesa.

Development / Normal Loan

  • Limit shall be 3 times the member’s shares/deposits
  • Repayable in 60 months (5 years)
  • Interest @ 1% p.m (12% p.a)

Super Normal Loan

  • Limit shall be 3 times the member’s shares/deposits
  • Repayable in 84 months (7 years)
  • Interest @ 1.05% p.m (12.6% p.a)

Premium Loan

  • Limit shall be 3 times the member’s shares/deposits
  • Repayable in 96 months (8 years)
  • Interest @ 13% per year, amortized

Education Loan

  • May be granted in addition to other loans
  • Limit shall be equivalent to a member’s Shares/deposits up to a maximum of Kes. 300,000
  • Repayable in 36 months (3 years)
  • Interest @ 1% per month

Emergency Loan

  • May be granted in addition to other loans
  • Limit shall be equivalent to a member’s Shares/deposits up to a maximum of Kes. 100,000
  • Repayable in 12 months (1 year)
  • Interest @ 1% per month

Jiinue Loan

  • For members wishing to offset a running loan to acquire a bigger one
  • This is a feature applicable to all the loans
  • A commission of 2% charged on the remaining loan balance for Exams Sacco loans and 5% on loans from banks and other financial institutions.
  • On selling you choose new terms from any of the five (5) options above.

Hazina Loan

  • May be granted in addition to other loans
  • Limit shall be equivalent to a member’s Shares/deposits up to a maximum of Kes. 300,000
  • Repayable in 36 months (3 years)
  • Interest @ 1% per month

Deposit Boast Loan

  • Where deposits are inadequate members can now get a bigger loan to also boost their deposits.
  • Application for deposit boosting must be accompanied by a loan application for any of the loan products.
  • The boosted amount will be charged 3% one-off and recovered in full when paying out the new loan.

Self Guarantee Loan

  • Members with adequate savings can now be their own guarantor.
  • The deposits must be adequate to cover the full loan.
  • The loan is advanced within the members deposits.
  • The amount self-guaranteed shall not be available to guarantee other members.
  • Maximum loan shall be 95% of own deposits.

Refinancing Loan (Top Up)

  • The applicant must have an existing Development Loan.
  • The total loan shall not exceed 3 times the member’s shares/deposits.
  • The repayment period must be within the period of existing Development Loan.
  • Processing time is subject to availability of funds.

“BORROW WISELY AND PAY PROMPTLY”

 NB:   

  • Repayment for all Exams Sacco loans is on reducing balance.
  • The total loans taken must not exceed 3 times the shares/deposits held.
  • The minimum monthly deposit contribution is Kes.1,000
  • Loans are processed every Thursday.
  • Let’s patronize the Sacco products in order to increase the return in form dividends and interest.
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