DEVELOPMENT LOAN (Click here to Download  Loan Application Form )

This is a long term loan granted to our members for their own personal development e.g. buying of land, property or any project. The general loan terms applicable to loan products applies to this loan.  The maximum amount granted is 35,000,000/=  with a  maximum repayment period of 120 months depending on the amount approved.

Loan Terms & Conditions
  1. All loan applications shall be made on prescribed forms by the Society and shall in each case set out the amount applied for, the purpose of the loans, terms of repayment and types of security provided.
  2. The applicant must have been an active Sacco member for a period of not less than Six (6) months.
  3. Maximum loan  is 3 times of the applicants SACCO Deposits.
  4. Interest Rate of 1% per month on reducing balance
  5. All loans must be fully secured by guarantors or any other security approved by the Credit Committee.
  6. A member shall qualify for a loan within own deposits without security as long as he or she has not used the same deposits to guarantee any other loan.
  7. Loan Application fee as follows:

    Loan Amount

    Loan Application Fee





    Above 500,000

    0.5 % of the loan amount

  8. A borrower who deposits lump sum amount for the purpose of borrowing should wait for at least three (3) months before borrowing OR a lump sum fee of 7.5% of the lump sum amount deposited will be charged if the member borrows within three (3) months, This is subject to credit committee approval.
  9. A member can only have one development loan at a time.
  10. The maximum repayment period for this loan product is determined by amount applied as follows:
Loan Type Amount (Kshs.) Repayment
Period (months)
i. Emergency Loan Maximum 200,000
ii. Education Loan Maximum 500,000
iii Flexi-Cheti Loan Maximum 27,660
iv. Development Loan Up to 500,000
1,000,001 – 3,000,000
3,000,001 – 5,000,000
5,000,001 – 7,500,000
7,500,001 – 10,000,000
10,000,001 – 15,000,000
15,000,001 – 35,000,000