Membership is open to members of Banki Kuu SACCO Society Ltd. In order to join the Scheme, one is required to fill in a membership application form and pay registration fee of Kes 100. A member is required to make minimum monthly contribution of Kes 300 and is eligible for a loan in January twice his/her shares based on his/her shares held on 30th June of the immediate past year and repayable within a calendar year at an interest rate of 20% p.a. on reducing balance. The sources of funds include a revolving fund from members’ deposits and borrowings from the Co-operative Bank of Kenya.
FEATURES | PREMIUM PACKAGE | PLATINUM PACKAGE |
---|---|---|
Registration | Kshs. 100 | Ksh. 100 |
Monthly Contributions | Kshs. 1000 | Kshs. 1000 |
Repayment |
Within one calender year | |
Interest Rate |
14.5% p.a reducing | |
Loan Entitlement |
3x shares Education shares Deposit | |
Restructuring & Top ups |
Yes | |
Top-up /Restructuring fee |
2 months’ charge at 20% per annum | 2 months’ charge at 20% per annum |