Invest in your future by investing with Shelloyees
Everywhere you go, everywhere you sit; you will always find people discussing their big deals and breakthroughs. There is no easy road to self-reliance and building a secure financial backbone. Here at Shelloyees Sacco, we take you by the hand and help you to achieve your greatest life goals a shilling at a time.
Investing requires courage and risk
What comes to your mind when you hear of Warren Buffet, Bill Gates, Richard Branson or even Jeff Bezos? For me, it comes down to making lots of money, being street smart and letting your wealth work for you. Trust you me, we are not all gifted athletes that play for the English Premier League- who are rewarded most handsomely- per week. Rather, we are employees of organisations depending on a month-to-month payslip or a side business to complement our 8-5 labours. If this is the reality on the ground and we want to move in the same school of thought of the aforementioned business leaders- then clearly we require courage in order to take a few financial risks.
You and I who have gone through some basic formal education and with years of work experience very well know that you must let your wealth work for you and you must diversify your risks by spreading out your investments. We do not want to work and retire at the age of 60 to live off our pensions. Pensions will have valued even less when our time comes because of fluctuating interest rates, strength of our Kenyan Shilling currency and our weakening purchasing power due to our current slow economic growth. Now is your opportune time to learn about the types of loans that Shelloyees has to offer and the process of taking a loan to invest in your future. Do not wait to invest when you are old, frail and without the capital to do so.
The Process of securing a normal Sacco loan with Shelloyees
- Normal loans are available to members who need finances for development purposes to be repaid over a maximum of sixty (60) months and charged interest at 1% p.m. subject to clause 3.2.10 on interest rates
- You must have been a member for a minimum period of six months and contributed not less than Kshs. 12,000.00 in deposits
- The maximum amount of loan granted shall not exceed KSh 15 million. Repayments from your salary shall not, in addition to other deductions, exceed 2/3rd of a member’s basic salary. Repayment from other sources of income shall be supported by Six (6) months certified bank statement
- Your loan must be fully guaranteed by own deposits, other members deposits or acceptable security. For guarantor’s hip against deposits, the guarantors must be at least four.
- A member may refinance the initial loan at 1% refinancing fee in six months. A member may access subsequent refinancing at any time at 5% refinancing fee of the outstanding loan.
- Other loans, which are available, includes normal, super normal, emergency, school fees, insurance, asset financing, short term and instant.