General Mpanzi sacco Loan Products Conditionsmpanzi sacco
- Member must have paid Capital Share.
- Member must been a member for a period of 3 months and consistently contributed deposits.
- All loans must be fully secured.
1. Development Loan
The development loan is designed to address personal development projects and business expansion.
Features
- Loan shall not exceed 3 times members’ deposits for members above 6 months.
- Loan shall not exceed 2 times member deposits for members between 3-5 Months.
- Loan repayment period up to 36 months.
- Interest rate of 1% per month on a reducing balance.
2. Emergency Loan
It’s designed for urgent financial obligations
Features
- Loan shall not exceed 40% of member deposit
- Loan repayment period up to 12 months
- Interest rate of 1.5% per month reducing balance
3. Instant Loan
The product is designed to assist members’ emergency needs.
Features
- Loan shall not exceed 1/3rd of member deposits
- Loan repayment period up to 6 months.
- Interest rate of 2.5% per month flat rate
- No guarantors required
- Loan processed within 24 hours
4. Okoa Loan
This facility is a short-term loan that seeks to offer solution to urgent advance needs
Features
- Loan shall not exceed 1/3rd of member deposits
- Loan repayment period up to 3 months
- Competitive interest rates
- No guarantors required
- Loan processed within 24 hours
5. Kikundi Loan
This is a loan designed for registered groups, churches, Parishes, institutions like schools etc
- Loan shall not exceed 3 times of group deposits
- Loan repayment period up to 18 months
- Interest rate of 1% per month on flat rate
6. Mkopo Kilimo Loan
This is a loan designed to finance dairy farmers, poultry keepers, horticulture, drip irrigation etc.
- Loan shall not exceed 3 times members’ deposits for members above 6 months.
- Loan repayment period up to 6 months
- No guarantors required
- Loan processed within 24 hours
7. School Fees Loan
This is a facility designed to meet school fees needs.
Features
- Loan shall not exceed 1.5 times of member deposits.
- Loan repayment period up to 12 months.
- Interest rate of 1.5% per month on reducing balance
- Member must provide documentary evidence e.g fees structure to prove the need. The Cheque shall be written in favor of the institution.
8. Nuru Loan
This is a short term loan designed to embrace clean energy lighting systems such as solar lamps, panels, energy jikos etc.
- One must have contributed at least 25% of the value of the equipment as deposits.
- Loan repayment period up to 12 months
- Interest rate of 1.5% per month on reducing balance
9. Asset Financing Loan
This is a loan designed to help members purchase assets such as motorcycles, cars, water tanks, generators etc
Features
- One must have contributed at least 25% of the value of the asset as member deposits
- Loan repayment period of up to 24 months
- Interest rate of 1.5% per month on a reducing balance
- Purchased asset used as security for the loan
10. Mkulima Loan
This is a rural sacco loan product is designed to assist members’ purchase farm inputs, animal and poultry feeds, farm tools and machineries.
Features
- Loan shall not exceed 33.3% of member deposits
- Loan repayment period of up to 12 months
- Interest rate of 1% per month on flat rate
10. Church
This facility seeks to help churches acquire instruments,furniture and land among others
Features
- Loan shall not exceed 50% of member deposits
- Loan repayment period up to 36 months
- Interest rate of 12% per annum flat rate
- Gurantee by members deposits,logbook or title