INSTITUTION GROUP LOAN
• Designed to help member companies, schools, business entities, churches and cSos among others to invest in major projects and development for their growth.
• Institution must be an active member with 3 months’ shares.
• Evidence of express authority from top organ e.g AGM or BoD Minutes.
• Security; guarantors, title deed, shares of the organization and any assets of the organization.
• Loan granted four times the net savings account of the ordinary savings account or net remittance for last 3 months.
• Maximum repayment period is 24 months.
• Interest rate is 1.5%p.m. reducing balance.
• Max. loan amount Kshs. 6,000,000