The key requirements are as follows:
Maximum limit is dependent on members’ ability to repay the loan within the agreed period and 3 times one’s deposits
- Daraja loans are repaid within a period of 36 months.
- Interest rate of 1.5% per month on a reducing balance method.
More requirements:
- Other than the three latest pay-slip and guarantors, no other supporting documentation is required from a member.
- Cheques are paid directly to the member unless otherwise advised by the member.
- Loan can be secured by either guarantors or title deeds
N:B For payment charges refer to Tariff Guide under downloads.