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Loan Products

NORMAL LOAN (DEVELOPMENT LOAN)

  • Granted based on paying power and four times your shares
  • Maximum repayment period will be 60 months
  • Mode of payment is check off.
  • The loan will be processed within a period of three weeks
  • Security for the loan will be salary, shares and guarantor’s shares and salary.
  • Granted based on paying power and four times your shares
  • Maximum repayment period will be 12 months
  • Mode of payment is check off.
  • The loan will be processed Instantly
  • Security for the loan will be salary, shares and guarantor’s shares and salary.
  • Maximum amount qualified will be based on available amount x 4 your deposits
  • Maximum repayment period will be 60 months
  • Mode of payment is check off.
  • The loan will be processed instantly
  • Principle loan repayment to be done together with the interest repayment (special)
  • Security for the loan will be salary, shares and guarantor’s shares and salary.
  • Super 72 shall be granted as long-term loan for Sacco active members
  • Maximum Repayment period is 72 Months
  • Loan processing period is 3 weeks after registration
  • Maximum amount qualified will be based on available amount x 4 your deposits.
  • Security for the loan will be salary, shares and guarantor’s shares and salary.

New Fosa Loan 

  • Loan is  granted to all salaried fosa account holders
  • Loan  is processed within  two (2) hours
  • The repayment period is Eighteen (18) months
  • The maximum amount granted is based on the net salary.
  • Security for the loan is   salary, shares and guarantor’s shares

Hekima Loan Features

Processed within  two (2) hours

Payment period of 24 Months

Eligible to salaried/pensioned Fosa members who receive their salary through our fosa

Loan not based on number of shares

Recovery through FOSA

Maximum amount of up to Kshs. 200,000/=

Pumua Loan Features

  1. This loan has  a grace period of 6 months
  2. Payment period of 12 months
  3. Processed with a day
  4. Loan not based on number of shares
  5. Maximum amount Kshs. 30,000/=
  6. Recovery is through our FOSA

Biashara Loan Features

  1. A member must have operated a Biashara account 3-6 months
  2. Loan is 4 times their savings
  3. Business assessment done by a Relationship Officer
  4. Provide business photos and business permit
  5. Sketch maps for residential and business area

Chama Loan Features

  • Chama given 3-5 times members  savings after three months of savings
  • For special groups,  loans  can only be granted after one month’s savings. This is after proving with previous Account statement and transfer of savings to Kwetu Sacco
  • Group officials to fill the loan application form
  • Resolution to borrow should be  from all group members
  • Pin KRA for Chama officials
  • Passport coloured for the officials
  • Proforma invoice incase the application is intented for the purchase of an asset

MISCO Business Loan Features

  1. Done after 6 weeks of savings and training
  2. Group members to co guarantee each other
  3. Borrow 3 or 5 times of their savings depending on the category of the group
  4. Group to have a select Credit Committee to work with Kwetu Sacco  designated officer
  5. Group to go through loan preparation training Before any loan disbursements

Asset Finance Loan Feature

  • The loan is granted for the purchase of  Business Vehicles, Bodaboda, water tanks, Meko Gas, Solar products, etc.
  • Repayment is by way of monthly Installments comprising the capital value plus interest charges over an agreed finance term.
  • Ownership of the asset automatically passes on to member upon the last repayment