This is an advance designed to enable members of the Chama, who are also members of the Sacco to get a quick loan for their individual personal development/projects.
Chama chapchap appreciates that as members save together, they also excel individually to enhance their economic and social well being.
- Loan limit Maximum of Ksh.500,000
- Repayments period 24 months
- Interest Rate 1% per month on reducing balance
- Personal and Chama guarantee
- Cash cover(Chama deposits held in lien)
- Chama deposits can secure 50% - 95% of the loan
- Registration certificate
- Must contribute for 6 months
- Chama must have contributed for 6 months
A chama must be registered as a company to access a loan