1. Do I need a guarantor if my loan application is equivalent to my deposits?
    No, you do not need a guarantor, If the loan applied does not exceed your deposits or If your deposits are not attached to any loan.You can acess a loan of upto 95% of your deposits
  2. How many guarantors do I need?
    The Sacco has no minimum or maximum guarantors. It all depends on the loan amount applied. Ideally, a member’s deposits and guarantor’s deposits must be equal to or more than loan amount subject to risk exposure.

    1. How many people can I to guarantee?
      • A member can guarantee their own loan and six other loans with their total deposits
      • What other securities can I use to secure a loan?
        • CDCS   : 50%
        • Mhasibu completion certificate: 100% of face value
        • Fixed Deposit: 100%
        • Child scheme 100%
        • Life Insurance 100% of sum assured
        • Logbook   50%
        • Logbook 2   75% not more than 10 years
        • Logbook 3    90% showroom car
        • Mhasibu investment 100%
        • Mhasibu titles 75%
        • Other titles 60%
        • Unit trust 100%
    2. How many members have I guaranteed?
      • This information is accessible through the online portal link
    3. Is there a deadline for loan applications?
      • All loans are processed as they are received.
    4. What does the different Loan status mean?
      • 1 month arrears   watch
      • 2 months   Substandard
      • 3 months   Doubtful
      • More than 3 months (Non-performing) subject to recovery
    5. What services can I access through the online platform?
      • Rahisi Loan upto 300K, Mobi loan upto 150K, Dividend advance upto 70% of amount earned in 2022
      • Your personal information
      • Deposits, loans and shares statements
      • Details of members you have guaranteed and whether they service their loans properly.
      • Co-guarantors contacts are critical in event of loan default by a member you have guaranteed.
      • Your dividends advice slip
      • Loan calculator