Credit and Loans

In order to meet the needs of members, KEMU SACCO offers a variety of loan products:

Development Loan

This is a loan designed to meet the cost of capital development. The amount given is calculated at three times one’s savings, and is repayable within 60 months.

Household Loan

This is a loan offered for household goods on member request. The items are usually ordered from reputable dealers and manufacturers. The loan repayment period is 36 months.

Emergency Loan

This is a loan meant to sort out emergencies such as hospital bills, court fines, etc. Support documents to prove an emergency must be provided. The loan is repayable within 12 months.

Instant Loan

This is a loan given in exchange for immediate cash. The maximum loan amount is Kshs.80,000/= repayable within six months with an interest of 5% per month.

Group Lending

KEMU Sacco now allows for group membership (min 10 members - max 20 members), who can borrow upto two times (2X) of their contributions. Maximum amount is Kes 200,000. Loan Application to be done by the Group Executive Committee. Terms and conditions apply.

Loan Advance Through Collateral

In this product, valuation/charge of the collateral will be done by the SACCO’s appointed valuers, and the charge cost to be borne by the member applying for the loan. The loan advanced will will be a percentage of the property as follows: Motor vehicle - 70%, Land - 90%. Terms and conditions apply.

Automobile Financing

We provide 80% financing for a new vehicle and 70% for a used vehicle, at an interest rate of 14% pa. The repayment period is 48 months. The processing fee is only Ksh. 1000/=. This loan is not pegged on SACCO savings but valuation will be done by SACCO’s appointed agent. Terms and conditions apply.

Biashara Loan

This product is for members outside the common bond and one does not need a pay slip/not salaried. However, a bank statement of the member’s bank account should be attached, and the loan should be guaranteed by common bond members. We give up to two times (2x) of one's savings, at a repayment period of 24 months, and an interest rate of 12%. Terms and conditions apply.

Mkombozi Loan

This is a salary advance usually given to a member and is repayable by the 5th of the next month. It has an interest of 4%. Default on repayment of the advance attracts a penalty of Kshs.500/=.

School Fees Loan

This is a loan meant to assist members meet the obligation of educating their children. It is repayable in 12 months. A fee structure must be attached.

Re-financing Loan

This is a facility is given to a member who is already servicing a development loan so as to complete the development. The repayment period is 48 months.

Agriculture Loan

This is a loan given to farmers to enable them buy irrigation products. The loan is repayable within 12 months.

Top-up Loan

This is a loan given as a top up of other loans already borrowed. The loan is repayable within 48 months.

I.P.O. Loan

This is a loan designed to help members acquire shares through IPOs. It is repayable in 24 months.