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October 18, 2019

AMREF SACCO EDUCATION LOANS

HIGHER EDUCATION LOAN

Product features

  • Caters for college and university higher education
  • Maximum period – 24 months
  • Interest rate – 1% p.m. on reducing balance (6.5% p.a.)
  • Supporting documents – college fees structure must be attached to the application.
  • Cheques may be raised in the name of the college where applicable
  • Only one higher education loan may be granted at any one time

SCHOOL FEES LOAN

Product features

  • No maximum amount
  • Repayment period – 12 months
  • Interest rate – 1% p.m on a reducing balance (6.5% p.a)
  • Fees structure should be attached as proof of school fees
  • Cheques are raised in the name of the school where applicable
  • Only one school fees loan may be granted at any one time

VALUE ADDITION

JIPAMBE MERCHANDISE LOAN

Product features

This facility is offered in partnership with Hot Point appliances, Top tank Limited, Kingsway Tyres and Daima Solar Energy Ltd. For product list, please email info@amrefsacco.org

  • Maximum amount – As per quotation subject to 3 times member’s savings
  • Repayable 12 months
  • Interest rate 1 % p.m. on reducing balance (6.5% pa)
  • Cheques payable directly to the merchants

INSURANCE FINANCING LOAN

Product features

This facility is offered in partnership with CIC insurance group for motor private at 3.75% and motor commercial at 4.5 %. Other types of insurance covered include Medical, Home, Business and personal accident.

Financing terms

  1. Maximum amount – As per premium after valuation
  2. Repayment period – 6 months
  3. Interest rate – 5 % fixed (one off)
  4. Security – Guarantors required for amounts above Kshs 50,000

EMERGENCY LOANS

Product features

  • Such as hospitalization, funeral expenses, court fines, and other unforeseen circumstances.
  • Maximum Amount – 3 times member’s savings
  • Maximum period – 12 months
  • Interest – 1% p.m. on a reducing balance (6.5% p.a.)
  • Loans of Ksh 50,000 and less – Granted without supporting document.
  • Loans exceeding Ksh 50,000. – Applicant will be required to provide documentary proof of an emergency
  • Only one emergency loan can the given at any one time

INSTANT PESA

  • Maximum amount – Ksh70,000 subject to 3 times member’s deposits
  • Repayment period – 5 months (Maximum)
  • Interest rate – 6% one off
  • Loan amounts of Ksh 70,000 and below are disbursed through M-pesa.

SALARY ADVANCE

Product features

  • Maximum amount – Salary limit
  • Max repayment period – 1 month
  • Interest rate – 3% fixed (one off)
  • Security – None
  • Disbursed – Within 24 hours

KARIBU M-CASH LOAN

Product features

  • Borrow up to KSh10,000
  • Repayment period – 1month
  • Interest rate – 7.5% one off charge
  • No Guarantors needed
  • No paperwork
  • To qualify for the loan, one must be a member for a period not less than three months. The loan limits is subject to your deposits

ADDITIONAL SERVICES

  1. Transfer Money to own or other M-Pesa
  2. Pay any Pay bill (Including K.P.L.C, DSTV, ZUKU, Nairobi Water)
  3. Savings and Loan Balance enquiry
  4. Check Guarantors/guarantee status
  5. Buy Goods/ Till payments

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