Individual Made Simple
Under this loan product, an individual must have personal collateral property and also guarantors because in case of defaults, the guarantor is in position to pay back the
Sacco money. This loan rely so much on the integrity of the borrower to repay the loans principal and interest.
he lender (Sacco) do background and credit check: on the borrowers’ potential to pay back the loan and also assess any associated risk. If the borrower defaults on the loan, the creditor will take/seize the assets secured in order to pay back the money borrowed. Individual loans serve various purposes depending on the borrower like financing school fees needs, business and land, house, boda boda any other need.
Please note that all loan applications requires the following:
- A loan fee of 10,000
- Monitoring fees (2.5%) of the money borrowed,
- The account should have 30% of the money needed,
- Guarantor (passport photos) and collateral security and
- The interest rate vary from 2.5- 3%
- Ground check.