Posted on August 2, 2023
INTRODUCING ENHANCED FEATURES TO THE SENIORS’ LOAN
The improvements made to the Seniors’ Loan take effect on 1st August 2023.
The improvements are aimed at making the borrowing experience more rewarding to Sacco members who have retired from formal employment. The improvements to the Seniors’ Loan are as follows:
∗ The loan can be accessed by members who have retired from formal employment and have pension income
∗ A member can access up to KES 20 million subject to their ability to repay
∗ The maximum loan repayment period has been increased to four (4) years from previous three years
∗ The deposit multiplier has been increased to three (3X)
∗ The loan repayment will be through pension income
∗ The Sacco will now accept an asset (land/ Building) as a loan security as well as Members’ own deposits and guarantors.
The loan application form can be accessed here; Loan Application Form
You can read more about the improved Seniors’ Loan on the Circular Broadcast
Questions about loan application can be sent through the official email, [email protected]