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

This 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
Emergency Loan

Emergencies are unforeseen contingencies such as sudden hospitalization, funeral expenses, 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.
School Fees Loan

Features:

  • Maximum repayment period of 12 months
  • Interest rate of 1%p.m. reducing balance
  • Maximum loan is up to 3 times the deposits.
Product Loan

Product Loan gives members the flexibility to purchase products such as household items, water tanks, motorbikes, tuk-tuks, roofing materials, phones, laptops, among others.

Features:

  • Maximum repayment to 36 months.                    
  • Interest rate of 1% p.m. reducing balance
  • Proforma invoice provided by the supplier
  • The amount is paid directly to the supplier
  • Member shall be granted up to Maximum of Kes 3,000,000 subject to ability to pay.
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
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.

    

Jeki Loan

Jeki Loan is a facility for new members who have low deposits and are in need of credit facility above the limit of their 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.

 

Vision Loan

This loan has been tailored to meet members’ needs for higher credit to finance members’ development projects.

Features:

  • Enjoyed by check-off members only.
  • Maximum repayment period of 84 months
  • Interest rate of 1.2083% p.m. reducing balance
  • Maximum loan of up to 4 times member deposits
  • Flexible loan security such guarantors and collaterals accepted.
  • Rebates capitalized either to deposits, share capital or loan repayment.
  • The minimum loan amount that a member can apply is Ksh. 300,000.
Golden Loan

Golden Loan offers members additional credit facility when they have exhausted the maximum loan limit based on their deposits but can repay more loans through the pay slip.

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
Salary Advance

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

Features:

  • Salary must be processed through CHAI FOSA savings account.
  • Maximum repayment period of 6 months
  • Interest rate of 2% p.m. reducing balance
  • Maximum loan of up to Ksh. 100,000
  • An amount below Kes 20,000 will not require guarantors.
  • Flexible loan security such as guarantors
  • Salary advance monthly repayment shall not exceed 50% of the net pay processed through FOSA
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
  • Loan is repaid through Fosa Savings Account or through M-pesa.
  • Service fee of Ksh. 50.
Chaifama Loan

Chaifama loan serves the growing demand for 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
Investment Loan

The Investment Loan offers members a facility to finance the purchase of plots and property being sold by Chai Diamond Investment Ltd.

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
Deposit Cover
  • Member deposit are covered against permanent disability or death of a member
  • Deposits held at the time of death or permanent disability of the member are doubled and refunded to the nominee.
  • Funeral rider of ksh 50,000 is paid when a member loses a spouse or a child
  • Monthly premium of ksh 100 paid by the member.
  • Ksh 100,000 paid for funeral expenses on death of a member

 

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KTDA Plaza,4th Floor,Moi Avenue 0709808100/0709808101 info@ chai-sacco.co.ke   Membership Application

Contact Us

KTDA Plaza,4th Floor,Moi Avenue 
P.O. Box 278-00200 City Square
Nairobi Kenya
Mobile: 0709808100/0709808101
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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