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 rate is 1% on reducing balance method.

b) Emergency loans

  • No ceiling. No documents required.
  • Interest 1.1% on reducing balance method.
  • Processed within a day.
  • Repayable in 12 months

c) School fees Loans

  • No Ceiling, no documents required.
  • Interest 1.1% on reducing balance method.
  • Processed within 7 days.
  • Repayable in 12 months

d) Silver loan

  • Three times one’s deposits
  • Repayment period 60 months.
  • Interest at 1.16% per month on reducing
  • balance method but
  • Compounded to the principle loan.

e) Top-up loan

  • Subject to three times of deposits.
  • Previous outstanding Development loan paid.
  • Interest is 1% per month on reducing balance method.
  • Commission charged at 5% of cleared debts.
  • Maximum period of recovery is 48 months.

f) Instant loan

  • Applied through email or Special loan form.
  • Two guarantors required.
  • Takes less than an hour to reach the applicant.
  • Interest rate is 5%pm on reducing balance method.
  • Payable within 6 months.
  • maximum amount granted is sh 30,000

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 rate 1.1% on reducing balance method.
  • Repayable in 24 months

h) Masomo loans

  • No ceiling
  • Repayable in 24 months
  • Rate of interest 1.2% on reducing balance method

i) Patanisha loans

  • Pegged on 5 times member’s deposits.
  • Maximum of 2 million Shillings
  • Payable in 72 months
  • Six guarantors required
  • Subject to l/3rd of member’s basic salary.
  • Members with bank loans only
  • Interest at 1.16% per month on reducing balance method but Compounded to the principle loan.

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 at 1.16% per month on reducing balance method but
  • Compounded to the principle loan.

k) Other product loans

i) Tanks

    • Loans for purchase of TOTO tanks
    • No maximum but payable in 24 months.
    • Interest is 1.2% on reducing balance method.
    • No transport charges for tanks.
    • Delivered anywhere within the country.

ii) Laptop loans

    • Laptops given repayable in 24 months.
    • Interest rate 1.2%

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.