School fees loan
This loan product is designed to help those clients with small loan or small business loans pay school fees for their children in primary, secondary and college. The clients should have completed at least two consecutive cycles without any issues in the loan repayment.
Key Features
Member Admission fees | Not applicable |
Loan Processing Fees | Applicable |
Frequency of meeting | Not applicable |
Cash Collateral against principal loan | Not applicable |
Interest of savings | Not applicable |
Type of loan product | School fee loan for client’s children |
Loan size (1st cycle) | Maximum KSH10,000 |
Loan duration | 4 Months |
Loan increment each cycle | Not Applicable |
Service charge/Interest Rate | Applicable |
Mode of repayment | Monthly |
1st installment | After one Month |
Number of installment | 4 Monthly installments for 4 months |
Installment | 4 monthly installment |
Loan insurance/risk premium | Applicable |
Risk cover | LOP will be written-off in case of borrower death |
Advance installment | One last installment |