Loan Products

Chai Sacco Loan products have been designed to meet members’ financial needs whether arising from emergencies or planned financial investments. The designing, packaging and processing of our credit products takes into account flexibility and value for money for our members.

Main Loan

Our Main Loan product is an all-purpose loan product tailored to meet financial needs of our members whether for development, project improvement or investment.
Features:

  • Maximum repayment period of 48 months
  • Interest rate of 1% p.m. reducing balance
  • Maximum loan of up to 3 times member deposits
  • Flexible loan security such guarantors and collaterals
  • Turn-around time is 14 days after approval.
  • 0.5% appraisal fee.

Benefits

  • Lower and stable interest rate.
  • Longer repayment period of up to 48 months.
Emergency Loan

Emergencies are unforeseen contingencies such as sudden hospitalization, funeral expenses, court fines and other unforeseen circumstances beyond a member’s control.

Features:

  • Maximum repayment period of 12 months
  • Interest rate of 1% p.m. reducing balance
  • Maximum loan of up to 3 times member deposits
  • Guarantors used as security against the loan.
  • 0.5% appraisal fee.

Benefits

  • Faster processing period within 24 hours.
School Fees Loan

Education being a basic need, through School Fee Loan we support our members to provide quality education to their dependents.

Features:

  • Maximum repayment period of 12 months
  • Interest rate of 1p.m. reducing balance
  • Secured using guarantors and any other acceptable collaterals.
  • 0.5% appraisal fee of the amount applied for.

Benefits

  • Faster loan processing period of within 48 hours.
  • Give members the peace of mind as their children will be in school learning.
Product Loan

Product Loan gives members the flexibility to purchase products such as household products, water tanks, motorbikes, tuk-tuks, roofing materials, phones laptops among others at discounted rates from Sacco approved suppliers.

Features:

  • Maximum repayment period of 24 months for amounts above Ksh.20,000 and 12 months for amount below Ksh. 20,000.
  • Interest rate of 1% p.m. reducing balance
  • Proforma invoice provided by the supply and loan paid directly to the supplier
  • Turn-around time is 48 hours.
  • Flexible loan security such guarantors and collaterals
  • 0.5% appraisal fee.

Benefits:

  • Members enjoy the benefit of the product purchased as they repay the loan.
Super Loan

Super Loan is tailored to meet members’ needs for a longer-term loan product to finance their investments/projects.

Features:

  • Maximum repayment period of 72 months
  • Interest rate of 1.2% p.m. reducing balance
  • Maximum loan of up to 3 times member deposits
  • Minimum loan amount is Ksh. 250,000.
  • Flexible loan security such guarantors and collaterals
  • 1% appraisal fee.

Benefits

  • Longer repayment period of up to 72 months.
  • Can be used to buy off other loans.
College/University Loan

With a longer repayment period as compared to School fee Loan, this product serves members’ needs to pursue higher education as it gives members the flexibility of a longer repayment period.

Features:

  • Maximum repayment period of 24 months
  • Interest rate of 1% p.m. reducing balance
  • Maximum loan of up to 3 times member deposits and minimum amount of Ksh. 50,000.
  • Flexible loan security such guarantors and collaterals
  • Shorter processing period of 48 hours.
  • 1% appraisal fee.

Benefits 

  • Gives a member a longer repayment period as compared to School Fee Loan
Jeki Loan

Are you a new member who has joined the Sacco with low deposits and in need of a loan? Jeki Loan is here to give you the opportunity to access a loan from the Sacco despite your low deposits.

Features:

  • Maximum repayment period of 36 months
  • Interest rate of 1.2% p.m. reducing balance
  • Maximum loan of up to Ksh. 300,000.
  • 34% of the loan retained as your deposits.
  • Flexible loan security such guarantors and collaterals
  • Turn-around time of 14 days
  • 0.5% appraisal fee.

Benefits 

  • Immediate access to a loan facility despite low savings in the Sacco.
  • Boosting of deposits with 34% of the loans hence the boosted deposits starts earning interest to the member.
Vision Loan

Vision Loan has been tailored to meet the needs for higher credit to finance members’ development projects. Its longer repayment period of up to 72 months and maximum amount based on 4 times the member’s deposits make it suitable to serve the purpose.

Features:

  • Maximum repayment period of 72 months
  • Interest rate of 1.2083% p.m. reducing balance
  • Maximum loan of up to 4 times member deposits
  • Minimum loan amount is Ksh. 300,000.
  • Flexible loan security such guarantors and collaterals accepted.
  • 1.5% appraisal fee.
  • Rebates capitalized either to deposits, share capital or loan repayment.

Benefits 

  • Lower and stable interest rate.
  • Longer repayment period of up to 72 months.
Golden Loan

Have you exhausted your maximum loan limit based on your deposits in the Sacco and you still have ability to repay additional loan in your pays lip? Golden Loan meets your need for more credit facility from the Sacco.

Features:

  • Available for members contributing deposits through check off
  • Maximum repayment period of 48 months
  • Interest rate of 1.25% p.m. reducing balance
  • Maximum loan of up to Ksh. 2 million
  • Salary must be channeled through FOSA
  • Flexible loan security such guarantors and collaterals
  • 1% appraisal fee.

Benefits 

  • Access to more loans based on the members’ ability to repay.
Salary Advance

The Salary Advance Loan gives members opportunity to access short-term credit based on the net salary processed through FOSA.

Features:

  • Maximum repayment period of 6 months
  • Interest rate of 2% p.m. reducing balance
  • Maximum loan of up to Ksh. 100,000
  • Flexible loan security such as guarantors
  • 0.5% appraisal fee.

Benefits

  • Faster processing period.
  • Longer recovery period from the salary. 
E- Loan

E-Loan gives members the flexibility to access credit on the go (i.e. through the phone). 

Features:

  • The loan is accessed through mobile phone USSD code *645# or M-Chai App
  • Loan is disbursed through the phone to M-pesa wallet
  • Interest rate of 6% p.m. charged upfront
  • Maximum loan repayment period of one month
  • Maximum E-Loan amount is Ksh. 30,000
  • One can access E-Loan at any time and repay at anytime
  • Loan is repaid through Fosa Savings Account or through M-pesa.
  • Service fee of Ksh. 50.

Benefits 

  • Quick access of the loan through the phone.
  • One can access as the loan as soon as the previous loan is fully paid. 
Chaifama Loan

Chaifama loan serves the growing demand for an affordable and more competitive loan product for the tea farmers based on their monthly tea proceeds and tea bonuses.

Features:

  • The member must have processed his/her proceeds in Chai FOSA for a period not less than 3 months
  • Maximum repayment period of 12 months
  • A member shall be granted a loan of up to Ksh. 15 per kilogram on 80% of the accumulated green leaves deliveries for 12 months beginning July of the previous year.
  • Repaid monthly from monthly proceeds or recovered once from annual tea bonus
  • Interest of 14% p.a. charged upfront. The interest will be calculated and loaded on the principal loan amount both to be recovered from the bonus or through monthly installment or combination of the two modes.
  • Member can only access one Chaifama Loan at a time.
  • Guarantors and collateral shall be required for loans above Ksh.500,000.
  • Farmers’ pay point must be locked to Chai Fosa for the period of the loan.
  • Farmer to attached confirmed farm proceeds slips
  • 2% appraisal fee.

Benefits

  • Faster processing period.
  • Flexible repayment terms either from monthly proceeds or annual tea bonus.
Investment Loan

The Investment Loan offers members a facility to finance the purchase of plots and property being sold by Chai Diamond Investment Ltd. The member will enjoy the benefit of owning a plot/property as he/she services the loan.

Features:

  • Maximum repayment period of 72 months
  • Interest rate of 1% p.m. reducing balance
  • Maximum loan of up to 4 times member deposits and must not exceed the value of the property being bought
  • Member can qualify for another investment loan on clearance arrangement within the security earlier provided.
  • Loan secured with deposits and purchased land/property from Chai Diamond Investment Ltd with Chai Sacco interest charged on the property/land with insurance interest noted in favor of Chai Sacco
  • Deposits committed on the loan shall not be withdrawable during the period of the loan.
  • Turn-around-time is 14 days.
  • 1% appraisal fee.
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KTDA Plaza,4th Floor,Moi Avenue 0709808000 info@ chai-sacco.co.ke   Membership Application

Contact Us

KTDA Plaza,4th Floor,Moi Avenue 
P.O. Box 278-00200 City Square
Nairobi Kenya
Phone: +254 20 2214406/10
Mobile: 0733 330045 / 0701 314410
Fax: +254 20 22144410
We have a friendly team and a listening ear to fully meet your needs. Keep in touch with us online on the platforms below.


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