ORDINARY MEMBER’S LOAN

  • Accessed based on member’s savings, shareholding and history of saving with the SACCO
  • Shall be a maximum of 3 times the share value, plus 2 times the savings deposits including the sub accounts.
  • A member can withdraw part of his savings even when in a loan status up to the equivalent of one installment.
  • The maximum accessible loan is UGX. 100M beyond which can be negotiated.
  • Repayment is  within 36 Months beyond which negotiations can be made.
  • It shall attract interest of 1.25% per month or 15% per annum on a reducing balance method.
  • Processed within a maximum of 5 working days.