Mwalimu Sacco Emergency Loans

Emergency Loans:

These loans essentially help members meet emergency financial needs such as hospitalization, bills that may fall due suddenly and unforeseen circumstances.

Product features:

• Repayable in 24 months
• Only one emergency loan can be granted at a time
• Emergency loans are given within a member’s entitlement
• Maximum limit is a members’ deposits x 5 (subject to 1/3 salary rule and ability to repay within twenty-four months)
• Principle loan repayment is done separately from interest