FEATURES OF QUICK FIX LOAN
1. Loan Purpose
• Emergencies include sudden hospitalization, funeral expenses, court fines, and other unforeseen circumstances beyond the members’ control. Quick Fix Loan must be supported by documents e.g. hospital bills, burial permits, court fines, etc.
2. Loan Amount
• Loan amount not to exceed Kes. 50,000
• Maximum of 3 times one’s shares and/or savings or the specific needed amount whichever is lower. If the member has another loan, the total loan amount is not to surpass three times the member’s savings and/or shares.
3. Loan Term
• Repayment period not to exceed six (6) months.
4. Cost of the Product
• Interest rate of 1.5% per month on a reducing balance
• Processing fee of 1% (payable upfront)
• Insurance is 1.5% per annum.
5. Qualification
• Quick Fix Loan may be granted to a member in addition to other loans provided the member meets the loaning requirements.
6. Collateral
• Total guarantee by cash collateral (guarantor savings)

BENEFITS
• Short processing time

Get the support you need — exactly when you need it.