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Qualification for a loan
Qualification for a loan
Home / Get a Loan / Qualification for a loan
Features
- A member must have been active for at least three (3) months, except for the Karibu Loan, which is exempt from this requirement.
- The loan must be guaranteed by at least two (2) members. The combined shares of the guarantors, together with those of the applicant, must be equal to or greater than the loan amount applied for. Self-guarantee is allowed where the loan amount does not exceed 90% of the member’s uncommitted shares.
- The maximum loan amount shall be up to four (4) times the member’s savings.
- The applicant must attach two (2) current payslips.
- The one-third (1/3) salary rule shall apply to all loans.
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