Uwezo loan is a unique loan product offered by Maktaba SACCO, designed to provide flexible and affordable financing options for its members. With a repayment period of up to 96 months, Uwezo is ideal for members who require long-term financing for purposes such as business and land investment. The loan embodies the “Save as you Borrow” principle, encouraging members to simultaneously build their savings while borrowing, thus fostering financial discipline and responsibility.
Features:
- Must be a member of the SACCO for a minimum of 6 months.
- Multiplier of 5 (Five) times the monthly deposits contribution.
- Maximum of ksh.5,000,000.00.
- Attract interest @ 1.25% per month reducing balance.
- Processing fee of 0.5% on the approved loan.
- Repayment period of not more than 96 months.
- Additional Monthly deposit 0.05% of approved loans on mandatory monthly contribution and plough back of 50% interest on deposits for the period member is servicing the loan.
- Top up available after clearing 50% of the previous Uwezo loan
- Collateral security is acceptable
