Home Business Cooperative Bank Jijenge Loan

Cooperative Bank Jijenge Loan

398
SHARE

 

Cooperative Bank Kenya offers Jijenge loan for Sacco members and individuals who want a loan for a low interest rate.

The features and interest rates for the loan are as follows.

Features / Key benefits

  • Loan amount based on 5 times deposits held in MDL/MJL Collateral account
  • Period-Up to 36 months
  • Interest @ 15% p.a
  • No application fee
  • Appraisal fee-1%
  • Schedule fee-Kes 250

Application requirements

  • Security-Checkoff, Lien over collateral deposits or tangible security provided

MJL Collateral account

  • The operating balance is Kes 50,000
  • No service charge shall be applied
  • No transaction fee shall be applied
  • The balance in the MJL Collateral Account attracts interest of 0.5% p.a
  • The deposits can be used to secure other facilities e.g. overdraft, working capital loans

 

SHARE