| PRODUCT | PURPOSE | FEATURES | REQUIREMENTS |
|---|---|---|---|
| NORMAL LOAN | To expand a business or other SACCO approved purpose | Loan qualification as per the society’s lending policy Affordable Interest Rate Flexible repayment period of upto 36 months.. Loan amount is three times members shares Insurance cover against death and permanent disability. Grace period of one month. | Duly completed Application submitted through a credit officer |
| LOAN SOSA(TOP UP) | To finance a new venture in the while still paying another loan | Affordable interest rate. Flexible repayment period. Convenient. | Member must have an existing normal loan Member must have excellent repayment history and consistency in savings. Applicant to have repaid at least ½ the Principal loan issued |
| ASSET FINANCE(MALI LOAN) | To support individuals acquire houses, home and office appliances, Industrial equipments e.g Motorbikes, blow dryers etc | Affordable interest rate. Flexible repayment period. One-Month Grace period. | Be a registered Member to qualify for a loan Should have contributed at least 30% of the asset value over a period of not less than 6 Months. Should have an account with the SACCO. |
| GROUP LOANS | For members of the group to expand their businesses or other investments (SACCO Approved) | Free financial skill training offered. Flexible weekly contribution and loan Repayment. Affordable interest rate. Flexible repayment period. Members must save 25% of the loan amount.. | Individuals must be in a group. Group must be registered or planning to register with the department of social services. A group should consist of not less than 5 individuals actively involved in a legal business. Individuals within the group shall be registered members of the society. Group shall operate an account with the society. |
| EMERGENCY LOAN | Loan issued to cater for emerging needs. e.g. emergency medical bill, school fees, legal fees etc | Disbursement within 24 hours. No security needed. Advance at 50% of own share deposit. No appraisal. | To have a good credit history |
| CRB AGENCY | To help clients verify their CRB status. OASIC is an official Credit Reference Bureau (CRB) Agent. | 1. Registration with CRB. 2. Credit Report. 3. Certificate of Clearance. 4. Know Who has listed you. 5. Credit ratings for businesses/Corporates. | The client to avail him/herself in our offices |
| OASIC OKOA LOAN | To finance some emerging needs | Accessed from the phone. Dial *875# | A good credit history. Contact 0791 166602 in case of problems |