Loans

There are five types of loans

1. Ordinary loan- three times savings at 1% with guarantors. Maximum repayment period is 36 months
2. Temporary loan – 2/3 of savings with or without guarantors. Interest is 1%. Maximum repayment period is 12 months
3. Instant loan – not more than half savings and not more than 10,000. Interest 5% payable in a month. Must be in a group
4. Chama loans -three times savings. Must be in a group. Interest 2.5%. Maximum repayment period is two years.
5. Group loan - for the group itself. Three times savings, interest 2.5% , maximum repayment period two years

Loan limits

Instant loan

one month only

Ordinary

1. 2000 upto 50,000 maximum repayment period 6 months
2. 51,000 upto 100,000 maximum 12 months
3. 101,000 upto 200,000 maximum 24 months
4. 201,000 and above maximum 36 months

Temporary

1. 2000 upto 50,000 maximum 6 months
2. 51, 000 and above maximum 12 months

Chama/Group

1. 10,000 > 100,000 > maximum 6 months
2. 101,000>200,000 maximum 12 months