This loan will be available to all members and the maximum amount will be Ksh.20,000 but not higher than one’s deposits. This loan will aim to meet short term emergency needs and will be processed with 24 hours of application. The loan application will be made by simply sending a request to Rosemary via email : rkiriungi@deloitte.co.ke. Once it is approved by the credit committee, the monies will be disbursed immediately to your account.
Features
- This is not subject to the 1/3 rule
- Processing is within 24 hours of the application
- No guarantors are required
- Interest rate on loan is 1.25% per month on reducing balance
- Roll over fee equivalent to the monthly interest will apply in the case of any monthly default by the member
- Repayment is either through payroll or outside the payroll for out of bond members
- Maximum repayment period shall be one month
- Must be cleared upon exit from the firm