Normal loans are available to members who need finances for development purposes to be repaid over a maximum period of sixty (60) months and charged Interest at 1% p.m. subject to clause 3.2.10 on interest rates.
Super Normal loans are available to members who need finances for development purposes to be repaid over a maximum period of sixty (72) months and charged Interest at 13% p.a. The amount granted is up to 4 times member’s deposits.
This loans are available for emergencies including hospitalization, funeral expenses, court fines, and/or any other unforeseen circumstances beyond the members’ control. Payable for twelve (12) months at an interest rate of 12% p.a.
School Fees Loan applications must meet all the requirements for Normal Loans. Cheques shall be issued in the name of the institution and loans shall be repaid within a period of twelve (12) months at an interest rate of 12% p.a.
Insurance Loans are available to members at 15% p.a repayable in 12 months. The premium cheques shall be issued in the name of the Insurance Company.
This is only applicable to normal and super normal loans. Members qualify for the 1st top up after 6 months of repaying a new Loan where a new Loan shall be defined as the Loan taken when a members’ loan balance is nil.
This is a tailor-made product to assist the members in their most urgent financial need. The maximum amount of loan granted shall not exceed ½ of the member’s deposits. The loan is repayable for 12 months at 15% per annum.
Shelloyees Sacco members can now access the Kadogo Loan facility by borrowing up to a maximum Kshs. 100,000, repayable in three installment or within (90) days at an interest rate of 3.5% per month.
A special purpose savings product where members are given the opportunity to save for special reasons like vacation. The minimum monthly contribution is KSh. 1,000 with an annual interest of 5 % p.a.
This product is available between 1st January and the AGM day. It is a loan against interest receivable by a member on the deposits held at the end of 31st December of the preceding year. It’s guaranteed by the expected interest payment.
Our Product loan offers members the opportunity to purchase various items through partnerships with various companies. Selected service partners include Safaricom, Hotpoint, Afrigas, Rotto Tanks and others.
Are you looking to purchase your dream home or a house as an investment? You can now access up to 6 times your deposit savings via the Makao Loan. The interest rate is 12.5% p.a on a reducing balance for a period of 10 years.
This loan product is be available for Shelloyees Housing projects only.
Requirements
The conditions for minimum monthly deposit contributions shall apply.
