Development Loan

: Fred Opondo; Main Scheme; 05 July 2016; Hits: 4112

REFINANCING LOAN

User Rating: 4 / 5

REFINANCING LOAN FACILITY

This is to inform our esteemed members that the Board of Directors has approved the introduction of a REFINANCING LOAN FACILITY, effective from May 16^th, 2016. The product whose features are detailed below is optional and for members who meet the mandatory requirements.

` FEATURES	REFINANCING LOAN
Repayment	72 Months
Interest Rate	15% pa (1.25% pm) on reducing balance
Loan Entitlement	3 x Main shares
Restructuring/Top up	Yes, restricted. 2 Months’ charge at 20% p. a Subsequent restructuring after 2 years
Consolidation	Not available
Security	Guarantors

*The loan multiplier shall remain 2x for Senior Citizen and Police categories.

: Super User; Main Scheme; 20 April 2016; Hits: 2015

Super Loan

User Rating: 5 / 5

: Super User; Main Scheme; 20 April 2016; Hits: 1564

Bridging Loan

User Rating: 5 / 5

a) Bridging Salary Loan

The facility is granted to those who are in premium package scheme who may wish to temporarily bridge there salary advance. A member is entitled to a maximum facility of upto Kes 500,000 repayable within 14 days at a commission of 10% of the amount lent. The loan will be based on the main scheme shares subject to availability of funds and the loan will be payable to the ultimate beneficiary institution.

b) Bridging Development Loan

The facility is granted to those who in premium package scheme who may wish to temporarily bridge their development loan. A member is entitled to a maximum facility of upto Kes 500,000 repayable within 3 months at a commission of 10% of the amount lent. The loan will be based on the main scheme shares subject to availability of funds and the loan will be payable to the ultimate beneficiary institution.

FEATURES	GENERIC PACKAGE	PREMIUM PACKAGE
Salary Advance
Repayment	N/A	2 Weeks
Interest Rate	10% of amount borrowed
Loan Entitlement	Maximum 500,000 Kshs
Development Loan
Repayment	N/A	3 Months
Interest Rate	10% of amount borrowed
Loan Entitlement	Maximum 500,000 Kshs

: Super User; Main Scheme; 20 April 2016; Hits: 2110

Emergency Loan

User Rating: 1 / 5

A member can take an Emergency loan 3.5 times their shares upto a maximum of Kshs 100,000 in the Premium package Kshs 200,000 in the Platinum package repayable in 2 years! at an interest rate of 15% p.a. reducing balance.

FEATURES	GENERIC PACKAGE	PREMIUM PACKAGE	PLATINUM PACKAGE
Registration	Must be a member of Normal Scheme
Monthly Contributions	Normal Shares contributions
Loan Eligibility	After 6 months of continuous contributions
Repayment	24 months
Interest Rate	15% p.a reducing
Loan Entitlement	3.5x main scheme shares - Max. loan 70,000 Kshs.	3.5x main scheme shares - Max. loan 100,000 Kshs.	3.5x main scheme shares - Max. loan 200,000 Kshs.
Restructuring & Top ups	Yes
Top-up /Restructuring fee	N/A	2 months’ charge at 20% per annum	2 months’ charge at 20% per annum

: Super User; Main Scheme; 20 April 2016; Hits: 2090