FEATURES

• Qualifying amount is 95% of a member’s unobligated/unattached deposits up to a maximum of KES. 20,000,000, subject to a third rule and contract period.
• Interest rate is 11% p.a on the reducing balance basis
• Repayment period of 84 months
• The loan security is the member’s own deposits (no guarantors required)
• Available to all members borrowing within their deposits not attached to any loan
• Asset loan is excluded when considering the available deposits

Purpose
This product is designed to assist members pay school fees in various institutions of learning.

Features

• The maximum amount one can borrow  is 3 times the member's deposits upto Ksh. 3,000,000.
• The interest chargedis 12% per annum on a reducing balance
• The loan is repayable within 12 months from the time of issue.

Purpose
The Emergency Loan is designed to address urgent needs and emergencies.

Features

• The maximum amount one can borrow is 3 * Deposits up to Ksh. 1 Million.
• The repayment period shall be a maximum of 12 months subject to contract period.
• The loan shall attract interest rate of 12% per annum on a reducing balance basis.
• The Security shall be the member's and guarantors' deposits.

Purpose
The product is designed to assist members meet urgent financial obligations and is processed within 24 hours.

Features

• The maximum amount one can borrow is  is Kshs 3 Million.
• A member can have multiple Instant loans, however, the total outstanding loan amounts for all instant loans at any one time must not exceed KShs.3 million
• Repayment Period of 36 months apply to any applicant with a running contract period of not less than 9 Months.
• Interest is charged at 14.5% per annum on a reducing balance

This loan is designed for members who have been loyal  to the UN SACCO for over 5 years.
Features

• The amount borrowed is 3* Deposits up to  KShs. 20 Million.
• The repayment period is 60 months as long as a member has an employment contract whose period is over 6 months.
• The loan shall attract interest rate of 12% per annum on a reducing balance.

Purpose
The Normal Loan is designed to address the development needs such as Building homes, Large scale farming, Motor vehicle purchase among others.

Features

• The maximum amount one can borrow is 4 * Deposits up to Ksh. 20 Million.
• The repayment period is maximumly 60 months subject to contract period.
• The loan  attracts an interest rate of 12% per annum on a reducing balance basis.
• The loan security is the member's and guarantors' deposits.
• One can have a maximum of 3 Normal Loans.

Purpose
The Premier Loan product is for development purposes. It is given to members with good standing in the Society.

Features

• Maximum loan amount one can borrow is up to 5 * Deposits up to  Ksh. 20 Million.
• The repayment period is  up to 84 months.
• The interest charged is 15% per annum on a reducing balance basis.
• The Security is the member’s own deposits and guarantors’ deposits.

Features

   ·  ·         Qualifying amount is 7 times the member’s deposits up to a maximum of Kshs. 25 Million subject to the location of the property and the one-third rule.

(City – 90%, County – 70%)

NB: Agricultural property not considered.

·         Interest rate of 14% per annum on the reducing balance irrespective of the contract period.

·         Use of reserve value/forced sale value in determining the loan to value.

·         Repayment period of 15 years or 180 months subject to retirement age.

·         The Loan Security is the Asset’s title deed.

Eligibility for this product: Current employment contract, which should not be less than 6 months to expiry.

Guidelines for applying for a secured Asset Loan 

Reviewed Secured Asset Loan features

Available to members who have retired from formal employment.

Features

• The maximum amount one can borrow is 2* deposits
• Guarantors must be from existing membership
• Maximum repayment period is 36 months.
• Interest rate 12% per per annum 
• Proof of pension ability to repay the loan.

This loan is designed to help new staff members to settle down smoothly in their new stations of work.

Features

• Member qualifies after first payroll deduction and raising minimum share capital of 50, 000 Kenyan Shillings.
• Maximum loan is 3 times monthly basic salary up to a maximum of KShs. 1,000,000.
• Interest rate is 14.5% per annum.
• Repayment period is up to a maximum of 12 months or contract period whichever is shorter.