Mobi-Pap Loan

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A Member should have fully paid-up minimum share capital.
The maximum amount per request shall be Kshs 50,000, depending on the total deposit holding as per Annexure 1.
Interest charges and the transaction charges are deducted upfront.
A Member must have accumulated deposits of 125% of the requested amount.
One month (30 days) repayment period.
The interest rate is 8% per month.
Overdue payment attracts an extra 8% interest per month.
A Member account shall be blacklisted if he/she defaults for three months.
A Member account shall be blacklisted if he/she defaults for three months.
The only members eligible to qualify for this product are those with performing and watch categories loans.

Target: members who are strained by the 2/3 rule.

Target: New members (Salaried employees, corporates, small business owners andentrepreneurs.)