At Cocotech Sacco we offer efficient and timely loan facilities .For every financial need we have a loan product suited help you out .
Our Loan products varies from Long-term loans to short-term loans and even loans against our various savings schemes.
All our loan products are subjected to the 1/3 salary rule
Long Term Loans
Development Loan
- Maximum amount is Three times the members savings in the ordinary saving scheme.
- Maximum repayment period is 60 Months
- Interest rate is 1% on reducing balance.
Cocoinua Loan
This is an additional loan to enable a member accomplish a running development project.
- Maximum amount is three times a members savings less outstanding loans.
- maximum repayment period is 36 months at the interest rate of 1.25% p.m on reducing balance.
Cocoplus Imarisha Loan
This is a loan product aimed at enabling members to pay off external debts.
for bank loans a clearance fee of 2% of the amount to be cleared is charged
for bank loans a clearance fee of 2% of the amount to be cleared is charged
- Maximum is 3times the members savings
- Maximum repayment period is 84 months at an interest rate of 1.25% on a reducing balance.
Emergency Loan
- Maximum amount is Ksh. 100,000
- repayable at the maximum of 12 months at an interest rate of 1% p.m on reducing balance.
Special Loan
- This loan enables members in a group(s) to acquire items through the sacco in partnership with an identified supplier.
- Maximum Repayment period is 72 months
- Interest rate is determined by the Sacco management.
Saving Scheme Loans
School Fees Loan
- Only applicable to members who save under the ESS.
- Maximum amount is 2 times members savings in the education scheme.
- Maximum repayment period is 12 months .
- Interest rate of 1% p.m on reducing balance.
CocoHoliday Loan
- only applicable to members who save under Holiday Scheme.
- Maximum amount is 2 times members savings in the scheme.
- Maximum repayment period is 12 months
- Interest rate of 1% p.m on reducing balance.