EMERGENCY LOAN

Emergencies include sudden hospitalization, funeral expenses, court matters, unforeseen calamities, shall be 75% of member total savings. Emergency loan shall have following features:-

1. Repayment period shall be paid as follows 0-50,00ksh -6 month.50,000-150,000 ksh-12 moths, Above 150,000 as Normal loan.
2. Interest rate for the loan is @ 1% per month on reducing balance for loan amount exceeding 1 million and 1 % per month on flat rate for loan less than 1 million.
3. Emergency loan shall be non-secured.
4. For a member to qualify for emergency loan he/she must have no/or cleared normal loan.