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Development Loan

Development Loan

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Membership is open to employees of the Central Bank of Kenya.  In order to join, one is required to fill in a membership application form and pay a registration fee of Kes 1,000.  A member is required to make minimum monthly contribution of Kes 4,000 and is eligible for a loan after six months of continuous contribution.  Under this scheme, a member can apply for development loan 3 times his/her shares repayable within 5 years at an interest rate of 12% p.a. on a reducing balance method.

 

FEATURESGENERIC PACKAGEPREMIUM PACKAGEPLATINUM PACKAGE
PREGISTRATION Kshs. 1000 Ksh. 1000 Ksh. 1000
MONTHLY CONTRIBUTIONS Kshs. 4000 Kshs. 4000 Kshs. 4000

LOAN ELIGIBILITY

 After 6 months of continuous contributions

REPAYMENT

48 months 60 months 72 months

INTEREST RATE

12% p.a reducing

LOAN ENTITLEMENT

3x shares

RESTRUCTURING & TOP UPS

N/A N/A

2months' charge 20% p.a, subsequent restructuring after one year

TOP-UP /RESTRUCTURING FEE

N/A N/A Available one year from date of joining or restructuring,subject to availability of funds

ISO 9001

Banki Kuu SACCO is now ISO 9001 Certified for compliance and regulation adherence. ISO 9001 is a certified quality management system (QMS) for organisations who want to prove their ability to consistently provide products and services that meet the needs of their customers.

© 2016 BANKI KUU SACCO. All Rights Reserved.

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