Kumbukumbu RegulatedNon-WDT-SACCO
Society Ltd.
We offer a diversified portfolio of loans and advances that is designed to equally sustain member development and other recurring needs.
We offer flexible loans to equally sustain and satisfy member development and other recurring needs.
- The total loans given to a member at any given time cannot exceed 3 times their total deposits.
- A member is only allowed to have either a normal or super 72 loan but not both.
| LOAN TYPE | MAX AMOUNT | MAX REPAYMENT PERIOD | DEPOSITS MULTIPLIER | INTEREST RATE | ELIGIBILITY | ||
|---|---|---|---|---|---|---|---|
| 1 | Normal Loan | Ksh.2,500,000 | 48 Months | 3x | 1% p.m. | All Members | |
| 2 | School Fees Loan | Ksh.200,000 | 12 Months | 3x | 1% p.m. | All Members | |
| 3 | Emergency Loan | Ksh.200,000 | 12 Months | 3x | 1% p.m. | All Members | |
| 4 | Special Emergency Loan | Ksh.300,000 | 20 Months | 3x | 10% Upfront then 1% p.m. | All Members | |
| 5 | Jiimarishe Loan | Ksh.100,000 | 12 Months | N.A. | 5% Upfront then 1% p.m. | All Members | |
| 6 | Super 72 Loan | Ksh.3,000,000 | 72 Months | 3x | 5% Upfront then 1% p.m. | All Members | |
| 7 | Karibu Loan | Ksh.200,000 | 24 Months | 1/3 deducted as deposits and share capital | 2% p.m. | First-time Members |
A normal loan product.
- Maximum limit of Ksh.2,500,000.
- Maximum repayment period of 48 months.
- Based on 3x deposits.
- Interest of 1% p.m. on reducing balance.
A product designed to cater for school fees.
- Maximum limit of Ksh.200,000.
- Maximum repayment period of 12 months.
- Based on 3x deposits.
- Interest of 1% p.m. on reducing balance.
A product designed to cater for emergencies.
- Maximum limit of Ksh.200,000.
- Maximum repayment period of 12 months.
- Based on 3x deposits.
- Interest of 1% p.m. on reducing balance.
A product designed to cater for special emergencies.
- Maximum limit of Ksh.300,000.
- Maximum repayment period of 20 months.
- Based on 3x deposits.
- Interest of 10% upfront and then 1% p.m. on reducing balance.
A product designed for personal products such as smart phones, laptops, water tanks, house hold furniture e.t.c. We partner with companies that sell the products demanded by the members and facilitate their acquisition at affordable prices.
- Maximum limit of ksh.100,000 for any one member at any given time.
- Repayable in 12 months.
- Based on pay slip eligibility only.
- Interest rate of 5% upfront and 1% monthly on reducing balance.
A development loan with the highest amount and repayment period.
- Maximum limit of Ksh.3,000,000.
- Maximum repayment period of 72 months.
- Based on 3x deposits.
- Interest of 10% upfront and then 1% p.m on reducing balance.
Product designed for new employees to help them settle down in their new work stations.
- Maximum limit of ksh.200,000.
- Maximum repayment period of 24 months.
- Interest rate of 2% p.m.
- Part of the loan to cover the deposits deficit (1/3).
- Can be issued to new members whose loan requirement is more than three times their deposits and part of the loan used to cover the deficit.
We offer flexible advances to our members so as to satisfy their immediate financial needs.
- Advances are given based on one's payslip ability.
- Advances are only guaranteed by one's payslip.
| ADVANCE TYPE | MAX REPAYMENT PERIOD | INTEREST RATE | ELIGIBILITY | ||
|---|---|---|---|---|---|
| 1 | Instant Advance | 1 Month | 10% p.m. | All Members | |
| 2 | Special Advance | 3 Months | 10% p.m. | All Members | |
| 3 | Dividend (Interest) Advance | N.A. | 10% deducted upfront | All Members |
A fund based on one's payslip.
- Maximum repayment period of 1 month.
- Interest rate of 10% for members only taken upfront.
- To be processed throughout the month until the payroll closure.
A fund created and managed at the savings account.
- Maximum repayment period of 3 months.
- Interest rate of 10% p.m. for members and 15%p.m. for non-members on reducing balance.
- To be processed once in a month at the start of the month.
A fund based on the interest accrued on deposits at the end of the financial year.
- Based on last year's interest.
- Interest of 10% of the amount approved deducted upfront.
Kumbukumbu Regulated Non-WDT-SACCO Society Ltd has served its members for close to a century having drawn membership from various establishments and individuals.
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