Mobile Loan (Instant Loan)

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We Save Everyday, Invest Wisely & Repay As Soon As Possible.

Mobile Loan (Instant Loan)

This loan product is accessible to members who need to clear their urgent financial needs. It is applied via the members portal & is instantly sent to the members' phone number upon request.

Members interested in this facility need to register for the service via the Member's Portal using the using your Member Number & ID /Passport Number.

To qualify for this loan, your Loan Balance should not be higher than your Member Savings. The criteria of upgrading your loan limit is pegged on how fast & efficient you pay off your prior mobile loans.

Unlike other loans, this instant loan does not require any guarantors. The member can self guarantee themselves using their own savings.

In case a member defaults in paying back this loan, he/she shall receive a warning & reminder once 7 days have passed since the loan was due.

If the loan will not be completed within 14 days, the loan will then be offset against the member's savings.

BENEFITS

• Maximum Repayment Period Of 6 Months
• Maximum limit for the loan is Kshs 100,000
• Interest is charged at 1.5 % on Reducing Balance