Benevolent Fund Insurance Premium Loan
This loan product is used to finance insurance premiums for the Group Benevolent and Welfare Fund Membership. This is for members who prefer to spread payment of the annual premium
Loan Features
- Available to members who have paid at least 2 Sacco shares (kes 20,000)
- We fund up to 95% of the annual premium.
- The repayment period is a maximum of 12months. Cover cycle is 1st August-31st July.
- Monthly Repayment instalments must not be in arrears for more than 2 months
- Interest rate is 1.5% per month on the reducing balance.
- The Sacco will pay full annual insurance premium to the Insurance company upon which the members policy becomes effective.
- No security required