LOANS

For purposes of a member being considered for a loan, his shares and deposits shall be taken into account.

The loan shall be three times the Shares/Savings.

The types of loans offered in Kilele SACCO include:-

• Development loans-1% p.m. – payable in 36 months

• Education loans-1% p.m.- payable in 12 Calendar months

• Emergency loans-1% p.m.- payable in 12 months

• Chuo Loan– 1%p.m- payable in 18 months.
• Refinancing Loan – 1.25% PM payable in 48 months.
• Mobile Phone /Jikokoa – 6 % one off repayable in 3 months.

• Karibu loan -5% p.m. straight line basis –payable in 3 months equals to one month salary  upon  confirmation  by the employer.
• Special loans – advance-5% p.m. on the principle- payable in 3 months

NB: A member must contribute consistently for a period of six months before applying for the loans and the loans must be fully guaranteed and for a member who fails to get adequate guarantor will qualify for a loan equivalent to his or her savings. A member also has to give a notice of 60 working days of the intention to withdraw from the Sacco in writing.