The facility shall be granted to organized groups only, either for personal development or working capital.
- The group must be registered and registration certificate certified by DSDO.
- The group shall qualify after three (3) months of consistent savings.
- The group must demonstrate ability to repay the loan through consistent savings.
- Rate of interest shall be 3% pm on reducing balance or as determined by the BOD from time to time.
- Processing fees 3% -one off.
- The repayment period must not exceed one (1) month-members with loan facilities remit payments weekly
- Members will be encouraged to co-guarantee each other.
- Members will borrow against their savings, no unsecured loans.
- The group must comprise of at least nine (9) members, only a third of the group will be eligible to borrow in a particular month.
- The group shall be encouraged to keep records/ minutes and the relationship officer to counter check every month.
- The group will be encouraged to enroll for group life insurance cover.
- Clean CRB reports for the group officials
United we stand, stronger we grow. Anchor Premier SACCO understands the power of organized groups, and our chama loan facility is designed exclusively for them. Whether your group is seeking funds for personal development or working capital, we’re here to fuel your collective aspirations, empowering your chama to thrive and conquer new frontiers.