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
- 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