Ufanisi Sacco Society Ltd is a Savings & Credit Society registered in Kenya since 6th July 1973 and has been licensed by SASRA from 22nd July 2013 to operate Front Office services. We promote thrift among our members by mobilizing savings and create a source (pool) of funds for onward lending at a fair and reasonable rate of interest. We offer various Back-office loan products namely Normal, Emergency, School Fees and Jiinue Loans. Our Front office products include advances such as Salary, Bridging, Karibu, Premium Financing, One, Three, Six and 12 Months Advances. Members can further save by opening School Fee, Holiday, and Fixed Deposit Accounts. Types of Ufanisi Sacco Loans full Guide
On this post, we are going to have a look at types of Ufanisi Sacco loans. Ufanisi Sacco Society is a savings and credit co-operative in Kenya that has been in existence since 1973.
The Sacco has uplifted the social-economic welfare of their members’ thanks to their loan products.
Ufanisi Sacco on their website pride themselves for having reasonable interest rates.
Today, we are going to take a look at different types of Ufanisi Sacco loans that may be of help to you.
Types of Ufanisi Sacco Loans
1. Ufanisi Sacco Normal Loan
This type of loan is given to borrowers who want to develop themselves.
Eligibility
- Times 3 of what a member has deposited.
- Guarantors who are qualified.
- Loan repayment period is 36 months at 14% p.a and 48 months at 15% p.a.
- Processing fee of the loan is 0.75% of the approved amount.
- The loan can be repaid either through checkoff or MSACCO by choosing the loan repayment option.
Minimum Deposit Contributions As Per Loan Approved
- Ksh. 0 to Ksh. 200,000 = Ksh. 3,600
- Ksh. 200,001 to Ksh. 500,000 = Ksh. 3,800
- Ksh. 500,001 to Ksh. 750,000 = Ksh. 4,000
- Ksh. 750,001 to Ksh. 1,000,000 = Ksh. 5,000
- Ksh. 1,000,001 and above = Ksh. 6,000
Loan Insurance Premium is 1% of the loan amount approved. Payment is one-off.
2. Ufanisi Sacco Emergency
This type of loan is given to members who have an emergency and are in need of money.
Eligibility
- Times 3 of what a member has deposited.
- Guarantors who are qualified.
- Interest rate is 12% p.a.
- Processing of the loan is done same day a borrower makes the application and meets all the qualifications.
- The loan can be repaid either through checkoff or MSACCO by choosing the loan repayment option.
- Processing fee of the loan is 0.5% for loans up to Ksh. 1 million and 0.75% for above Ksh. 1 million.
- The loan insurance premium is 1% of the loan amount approved. Payment is one-off.
3. Ufanisi Sacco School Fees Loan
This type of loan is given to members who want to clear their school fees or upgrade their studies.
Eligibility
- Guarantors who are qualified.
- Interest rate is 14% p.a.
- The loan repayment period is 12 months.
- You should not have any outstanding college fee balance.
- Processing fee of the loan is 0.75%.
- The loan insurance premium is 1% of the loan amount approved. Payment is one-off.
4. Ufanisi Sacco College Loan
This type of loan is tailored for borrowers who are in college.
Eligibility
- Guarantors who are qualified.
- Interest rate is 14% p.a.
- The loan repayment period is 12 months for college fees.
- You should not have any outstanding fee balance.
- Processing fee of the loan is 0.75%.
- The loan insurance premium is 1% of the loan amount approved. Payment is one-off.
5. Ufanisi Sacco Jiinue
This type of loan is tailored for borrowers who want to up lift themselves.
Eligibility
- The loan repayment period is 60 months.
- Interest rate is 16% p.a.
- The loan can be repaid either through checkoff or MSACCO by choosing loan repayment option.
- Guarantors who are qualified.
- Processing fee of the loan is 0.75%.
In case of any queries related to Ufanisi Sacco loans, feel free to contact their customer care using the contacts below.
Ufanisi Sacco Contacts
Ufanisi Sacco Society Limited
Development House, 3rd Floor, Moi Avenue,
Tel: 020-2246383/0712690660/0738690660,
E-mail:info@ufanisisacco.co.ke
Website https://www.ufanisisacco.co.ke/
