27-Sep-2023
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SAVINGS PRODUCTS
Savings Accounts provide opportunities to individuals to accumulate savings and deposits regularly. Before opening a savings account, ones shall have been admitted as a member of the society. Monthly Contributions can be done through check off, standing orders, paybill, direct deposits, or bank transfers.

1. Shares Account
    - Minimum Holding Kes. 15,000.
    - Earns Dividends annually.
    - Non-Refundable (Can only be transferred to an existing member).


2. Deposit Account
    - Minimum Monthly contributions Kes. 1,500.
    - Earns interest annually.
    - It’s the loans multiplier & allows members to access deposit as loans security.
    - Can only be accessed upon membership withdrawal.


3. Christmas Savings
    - Minimum monthly savings of Kes. 500.
    - Contributions can be done daily, weekly or monthly.


LOAN PRODUCTS

1. Development Loan
    - Repayment period 48 months.
    - Interest rate 13% pa reducing balance.
    - Maximum amount Kshs. 2,500,000.
    - Loan Amount is 3 times of the deposit.


2. Emergency Loan
    - Repayment period 12 months.
    - Interest rate 13% pa reducing balance.
    - Approved within 2 days (48hrs).
    - Maximum amount Kshs. 250,000.
    - Loan Amount is 3 times of the deposit.


3. Education Loans
    - Repayment period 12 months.
    - Interest rate 13% pa reducing balance.
    - Maximum amount Kshs. 400,000.
    - Loan Amount is 3 times of the deposit.


4. Bridging Loan
    - Repayment Period 36 months.
    - Interest rate 13% pa reducing balance.
    - Maximum amount Kshs.1, 200, 000.
    - Loan Amount is 3 times of the deposit.


5. Capital Loan
    - Repayment period 60 months.
    - Interest rate 13% pa reducing balance.
    - Maximum amount Ksh. 3,000,000.
    - Loan Amount is 3 times of the deposit.


5. Special Loan Products
    i. Repayment period 12 months.
    ii. Loans are appraised as any other loans.
    iii. Interest rate 13% pa reducing balance.


6. Home Appliances Loan
    - Repayment period 18 months.
    - Loans are appraised as any other loans.
    - Interest rate 13% pa reducing balance.


7. BIMA Loan
    - Repayment period 10 months.
    - Loans are appraised as any other loans.
    - Interest rate 8% pa reducing balance.


8. Salary Advance
    - Mid-month Cash advance payable in full at end of same month through check- off.
    - Interest - 5% per month.


9. Asset Financing & Development Loan Product
    - Repayment period 72 months.
    - Interest rate 13% - 15% pa reducing balance.
    - Maximum amount Ksh. 4,000,000.
    - Loan Amount is 4 times of the deposit.

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