Are you a group or Chama looking for the most flexible and affordable means to finance your common collective goal or project? Then this loan product is tailored just for you.
Features
- Have maintained an active group account with Moto Hope Sacco.
- Minimum 6 months consistent saving.
- Minimum savings of Ksh. 100,000.
- Interest rate of 2% per month reducing balance.
- Maximum Loan – 3 times savings.
- Loan amount ranges between Ksh. 300,000 to Ksh. 1M.
- Repayment period: A maximum of 24 months.
Requirements
- Group must be Sacco member.
- A duly completed loans application form.
- Certified copies of ID or Passport and PIN of Officials and/or Signatories.
- One (1) Passport size photograph of Directors and/or Signatories
- Certified copy of Rules/By-laws/Group constitution.
- Certified copy of Certificate of Registration or Exemption Certificate.
- List of Registered Officials.
- PIN for the Organization.
Note: There are charges for processing fee and insurance on each loan product.
