Mwalimu Sacco Loan Factor, Prorata calculation

LOAN FACTOR INCLUSIVE OF PRORATA						DEPOSITS BRACKET				RECOVER MODE
Loan Code	Loan Type	Repayment Interest Period rate p.a		Rate Deposit p.m Multiplier		<300K	300- 600K	600- 900	Above 900K
71	Vision	96	15	1.25	5	43.54	45.55	47.73	50.12	P+Int. combined
47	Super	84	14	1.17	4	42.11	43.96	45.97	48.20	P+Int. combined
86	Ufanisi	72	14.5	1.21	4	39.46	41.08	42.84	44.76	P+Int. combined
45	Development	48	13.5	1.13	4	31.17	32.17	33.25	34.39	P+Int. combined
36	Normal	36	12	1.00	3	23.38	23.94	24.52	25.14	P+Int. Separate
76	Wezesha	72	13.5	1.13	4	35.69	37.02	38.44	39.98	P+Int. combined
12&13	Eme/Fee	24	12	1.00	5	17.63	17.96	18.2	18.6	P+Int. Separate

LOAN FACTORS EXCLUSIVE OF PRORATA (where additional loan is less than than the first one)						DEPOSITS BRACKET
Loan Code	Loan Type	Repayment Period	Interest rate p.a	Rate p.m	Deposit <300K Multiplier		300- 600K	600- 900	Above 900K
71	Vision	96	15	1.25	5	55.71	55.71	55.71	55.71	P+Int. combined
47	Super	84	14	1.17	5	53.34	53.34	53.34	53.34	P+Int. combined
45	Development	48	13.5	1.13	5	36.92	36.92	36.92	36.92	P+Int. combined
36	Normal	36	12	1.00	5	26.47	26.47	26.47	26.47	P+Int. Separate
12&13	Eme/Fee	24	12	1.00	5	19.35	19.35	19.35	19.35	P+Int. Separate

NB//…. TOTAL LOANS SHALL NOT EXCEED DEPOSITS X5

DEPOSIT BANDING	PRORATA RATE
<300,000	0.50%
300,001-600,000	0.40%
600,001-900,000	0.30%
ABOVE 900,000	0.20%

By Editorial Team

The Education News Hub Editorial Team is made up of vibrant and experienced editors. Brian Yano is an accomplished longtime Digital Media Journalist at Educationnewshub.co.ke with a great passion for research and fact-checking. He delivers engaging content across diverse topics, with a special interest in Education matters. On her part, Yvonne Kemunto is a journalist, dedicated to unraveling stories that matter. With a keen eye for detail and a passion for storytelling, she brings a fresh perspective to the world of media. Her commitment to detail and excellence shines through in every piece she crafts. Our newest member of the Editorial Team is Jennifer Mumbo. She is a Seasoned Multimedia Journalist with several years' experience; dating back to 2018. Jennifer has a passion for education, sports, tech, politics and entertainment. You can reach the editors at educationnewshub3@gmail.com.