Mon - Fri : 08:00 AM - 05:00 PM
info@jogoosacco.coop
+254 20 232 3919

Loan Packages

MAJOR LOANS TERMS

a) Development Loans

  • 3 times member’s deposits.
  • Maximum repayment period of 48 months(4Years).
  • Interest is on reducing balance method.

b) Emergency loans

  • No ceiling. No documents required.
  • Interest is on reducing balance method.
  • Processed within a day.
  • Repayable in 12 months

c) School fees Loans

  • No Ceiling, no documents required.
  • Interest is on reducing balance method.
  • Processed within 1 day.
  • Repayable in 12 months

d) Silver loan

  • Three times one’s deposits
  • Repayment period 60 months.
  • Interest is on reducing balance method.
  • Interest is compounded to the principle loan.

e) Top-up loan

  • Applicable to all loan products
  • Previous outstanding loan is cleared.
  • Terms of the loan being topped applies.

f) Instant loan

  • Applied through email or Special loan form.
  • Two guarantors required.
  • Takes less than an hour to reach the applicant.
  • Interest is on reducing balance method.
  • Payable within 6 months.
  • maximum amount granted is sh 100,000

Mega Loan

  • Pegged on 5 times member’s deposits.
  • Payable in 84 months.
  • Require a Minimum of Six Guarantors
  • Interest is on reducing balance Compounded to the principle.
  • Boosting of Deposits using loan applied at a fee
  • Terms and Conditions apply

g) Karibu Loan

  • Applicable to new members whose deposits are less 40,000. Maximum loan Sh.120,000/-
  • Part of loan retained to increase members deposit to 40,000/-.
  • Interest is on reducing balance method.
  • Repayable in 24 months

h) Super Karibu Loan

  • Product for new Members whose Pay slips are capable for bigger loans but have no enough deposits.

  • Part of the loan will be retained to increase member deposits to the required amount

  • Member gets the maximum for which the pay slip can accommodate.

  • Repayment period is 24 Months

  • Interest is on reducing balance method with 1% processing fee.

i) Masomo loans

  • No ceiling
  • Repayable in 24 months
  • Rate is on reducing balance method

j) Okoa loans

  • Pegged on 5 times member’s deposits.
  • Maximum of 3 million Shillings
  • Payable in 72 months.
  • Six guarantors required
  • Subject to l/3rd of member’s basic salary
  • Interest is on reducing balance method.
  • Interest is compounded to the principle loan.

k) Other product loans

i) Tanks

    • Loans for purchase of ROTO tanks
    • No maximum but payable in 24 months.
    • Interest is  on reducing balance method.
    • No transport charges for tanks.
    • Delivered anywhere within the country.

ii) Laptop loans

    • Laptops given repayable in 24 months.

Mode of Payment

a)  Methods of Payment and or Contribution

Cash, Cheques, Paybill, Standing order etc

b) Using Paybill No. 910600 – Using Safaricom Network

c) Direct Bank Transfer – Please call us for the details.

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