• This product targets churches to help them acquire assets such as land,
  instruments, furniture, among others.
• Repayment period is up to 48 months.
• Processing takes up to 15 working days.
• This product attracts an interest rate of 1.2% p.m on reducing balance
• Any church that has saved consistently for six months qualifies for
  church loan.
  

Requirements

1. Application fee is charged at 1% of the amount
   applied.
2. Interest of 1.2% p.m. on reducing balance
3. A duly completed loan application form
4. Local Church Committee minutes’ extract
   approving the loan application.
5. Letter from the head/authority office
   guaranteeing the loan.
   

Important to Note

• This loan is guaranteed through session minutes/
  letter from the head authority office or collateral i.e
  title deed or property.
• This product is designed exclusively for
  Christian churches. We are committed to
  strengthening Christian communities and
  equipping churches for the future
• The Church is required to be an active Sacco
  member for a minimum of 6 months
• The Church is expected to make the required
  monthly contribution even as they are
  servicing the loan.
• The church’s credit history will be a major
  determinant for this and future loans.
  

Loan repayment options

Mode of loan repayment is through:

1. Check off - by employer
2. Standing Order – from Members Bank account to Sacco Bank Account
3. Mpesa – to the Sacco paybill number
4. DigiPesa – from Members Mpesa Directly to members Sacco Account
5. Direct deposit – to Sacco Bank Account through any Coop bank Branch or Coop kwa Jirani Agent
6. Direct debit – Sacco Bank collects from Member’s banks accounts.
7. Money transfers – RTGS, SWIFT, PoaPay, Wave, SimbaPay, JamboGlobal, UAEXchange, Western Union , MoneyGram