MwaLimu National MwaLimu Towers,

Upper HiLf, HiLL Lane, Off Mara Road

P.O. Box 62641 City Square, Nairobi; Kenya

Tel:   +254 (0) 020 295 6000

CefL: +254 (0) 709 898 000

Website: www.mwatimunationaf.coop

 

 

Our Ref: MW/2265/AD/47A

 

 

To All Members,

Mwalimu National Sacco,

notionol

2•^ AUGUST 2023

 

 

 

 

Dear Members,

RE: ADVANCE AGAINST EXPECTED REBATE FOR FINANCIAL YEAR 202 2

 

This is to inform you that Advance against expected Interest rebates for financial year 2 023 will officially be rolled out with effect from tomorrow 3•^ August 2023.

The product is officially accessible to members subject to the following terms and conditions:

1. The advance is available via MwalimuH E LA platform App and USSD *633#
2. The accessible amount will be 50% of the earned interest rebates for last financial year ended 31•’ December 2022 based on deposit balances then, at flat interest rate of 1.75% per month of the amount applied, subject to all other eligibility criteria. The interest rate will apply throughout the period of the

• Any subsequent application of the advance will be on a top-up basis, the same way a bi-idging facility is handled. Any member who wishes to access additional advance must first clear the existing advance for this product line. They should, therefore, apply for a higher amount than the existing balance of advance sufficient to clear the previous one and leave them with the desired

1. Members who may have defaulted on any lending product of the SACC 0 or with arrears on any Sacco obligations are NOT eligible for this product unless their accounts are