• Umoja Wendani Sacco 4th floor, P.C.E.A. Umoja Church. Tel: +254 (0) 709 453 000 /+ 254 (0) 721 516 546

Refinancing Loan

  • This product is a top-up facility to an already existing Development loan, Corporate/Group loan or Church loan
  • Repayment period is up to 48 months.
  • This product attracts an interest rate of 1% p.m on reducing balance.
  • Any member with an existing Development loan, Corporate/Group loan or Church loan with good repayment history qualifies for this loan


  1. A duly completed loan application form
  2. The applicant, should have repaid the existing loan by   50% so as to qualify for refinancing
  3. Attach copies of ID for both the applicant and guarantors
  4. Attach a letter requesting for the loan,explaining why the applicant needs refinancing loan.
  5. This product attracts an interest rate of 1% p.m on reducing balance.
  6. The application fee is 0.75% of the amount applied and a one-time negotiation fee of 5.25% of the outstanding loan.
  7. For Corporate/Group Refinancing loan, the Corporate/Group loan requirements apply
  8. For Development Refinancing loan, the Development loan requirements apply
  9. For Church Refinancing loan, the Church loan requirements apply




Important to Note

  • This loan is granted by the society and must be fully secured either by guarantors who are members of the society or by use of collateral; Collateral will include a title deed/Property
  • This Loan is issued to a member, corporate, group or church that is unable to finalize a project with the loan earlier taken, and needs a top up to finish the project.
  • The applicant is required to be an active Sacco member for a minimum of 6 months
  • The applicant is expected to make the required monthly contribution even as they are servicing the loan.
  • The member’s credit history is 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

Our Sacco aims to meet the financial needs of its members by encouraging them to save regularly and to borrow wisely for their development projects

Follow Us