REQUIREMENTS & ELIGIBILITY DURING LOAN APPLICATION

Loan Application Requirement:

  1. A copy of National ID Card / Passport
  2. An ORIGINAL PAYSLIP not more than TWO months old.
  3. A fully filled OFFICIAL loan application form.
  4. The loan must be fully guaranteed.

Loan Application Eligibility:

  1. The general requirement is that one must have been a member of the Sacco for period of 3 months for individual members and 6 months for Corporate members.
  2. One must fulfill all requirements of a specific loan product.

LOAN PRODUCTS

Akiba Loan

Features:

  • Interest: 1.0% per month, calculated on a reducing-balance basis
  • Maximum repayment term: 60 months
  • Multiplier: Up to 2× deposits
  • Security – Savings and Guarantors

Normal Loan

Features:

  • Interest: 1.0% per month, calculated on a reducing-balance basis
  • Maximum repayment term: 36 months
  • Minimum repayment term: None
  • Multiplier: Up to 3× deposits
  • Security – Savings and Guarantors

Development Loan

Features:

  • Interest: 1.1% per month, calculated on a reducing-balance basis
  • Maximum repayment term: 48 months
  • Minimum repayment term: None
  • Multiplier: Up to 4× deposits
  • Security – Savings and Guarantors

Emergency Loan

Features:

  • Interest: 1.2% per month, calculated on a reducing-balance basis
  • Maximum repayment term: 12 months
  • Minimum repayment term: None
  • Multiplier: Varies depending on any existing outstanding loans
  • Security – Savings and Guarantors

Kiatu Mobile (Instant) Loan

  • Interest: One off 12% (deducted upfront)
  • Maximum repayment term: 2 months (or 4 fortnights)
  • NB: Interest is deducted from disbursed funds at outset.
Kiatu