Requirements
i. The facility will boost your deposits to enable you get your desired loan.
ii. To help the member get a bigger loan, the member’s deposits are increased by two hundred percent (200%) of the member’s current deposit at the time of loan application subject to a maximum of five hundred Kenya shillings (ksh. 500,000).
iii. The boosting facility will be credited to the members’ account.
iv. The amount will be eligible to earn interest at the end of the year.
v. Interest charged on boosted amount is one-off at five percent (5%).
vi. Repayment of the loan shall be as per the terms of the loan borrowed.
vii. Interest shall be charged on the loan at a rate of one percent (1%) per month on a reducing balance.