Ufanisi Loan:
This is long-term loan product aimed at enabling members with salary ability but have low deposits to access more credit by boosting their deposits. A portion of the loan applied is retained as deposits enhancing the members balance multiplier.
Product features:
- Repayable in 72
- 10 % deposits boosting fee
- Minimum deposits prior to the application Ksh200,000.
- Loan must be fully guaranteed
- Only one Ufanisi loan can be granted at a
- The member’s salary to be channeled through Mwalimu National Sacco
- Recovery is done at a monthly flat rate combining principle repayment with