Loans

There are four 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.

Loan limits

Ordinary

2000>50,000 maximum repayment period 6 months

51,000>100,000 maximum 12 months

101,000>200,000 maximum 24 monthd

201,000 and above maximum 36 months

Temporary

2000>50,000 maximum 6 months

51, 000 and above maximum 12 months

Chama

10,000 > 100,000 > maximum 6 months

101,000>200,000 maximum 12 months