Educational Fees Loan

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FEATURES

1. Granted at a maximum rate of (3*) times the members savings
2. Interest rate is 5% per month on reducing balance
3. Maximum loan amount is Kshs 100,000 payable in 6 months
4. Loans disbursed within 1 day.
5. One off loan processing fee of 1% of the principal amount.
6. One off insurance fee of 1.5% on the principal.
7. One off institutional fee of 1% of the principal
8. Each monthly installment in arrears shall attract 5% penalty
9. Shares boost of 20% of member deposits is available for customers with ability to repay big loan but have less deposits.