GLOHA SACCO Loan Policy: Affordable, Flexible, and Transparent Financial Solutions
GLOHA SACCO has been at the forefront of empowering its members with financial solutions tailored to meet diverse needs. Our loan policy ensures that every member has access to affordable credit while fostering financial growth and stability. Whether you’re in need of quick funds, education loans, or long-term financing, GLOHA SACCO is your trusted partner.
Types of Loans Available
1. Super Normal Loan
Designed for members with long-term financial goals, Super Normal Loans offer unmatched affordability and flexibility:
- Eligibility: Access loans up to 3 times your deposits.
- Repayment Period: Flexible terms of up to 36 months.
- Interest Rate: A competitive 12% per annum on a reducing balance.
- Security Required: Guaranteed by other members’ deposits or acceptable collateral.
- Ideal For: Business expansion, housing projects, or any significant financial undertaking.
2. Emergency Loans
When the unexpected happens, GLOHA SACCO ensures you’re never unprepared:
- Eligibility: Loans are granted based on the 1/3 salary rule or available deposits.
- Repayment Period: Quick repayment options of up to 6 months.
- Interest Rate: Fixed at 18% per annum.
- Processing Time: Fast-track approval to address urgent needs.
- Ideal For: Medical emergencies, urgent travel, or unplanned expenses.
3. School Fee Loans
Education is an investment in the future, and our School Fee Loans are designed to make it affordable:
- Eligibility: Access up to 2 times your net deposits or based on the 1/3 salary rule.
- Repayment Period: Flexible terms of up to 12 months, aligned with school terms.
- Interest Rate: 18% per annum on a reducing balance.
- Special Provision: Members can apply for up to 3 school fee loans in a 12-month period.
- Ideal For: Covering tuition fees, boarding, and other education-related expenses.
4. Accelerated Normal Loans
For significant financial needs, GLOHA SACCO offers customized solutions:
- Eligibility: Loans exceeding KES 1 million with tailored terms.
- Repayment Period: Extended repayment periods of up to 48 months.
- Interest Rate: 14% per annum on a reducing balance.
- Customization: Terms are personalized based on your financial capacity and preferences.
- Ideal For: Property investments, large-scale business funding, or high-value purchases.
Download Loan Policy Document
Get detailed information on our loans, eligibility, and repayment terms. Learn how we provide affordable and flexible financial solutions.
Ready to Join GLOHA SACCO?
Contact us today to start your journey with Gloha SACCO! For inquiries, call:
- info@glohasacco.co.ke
- +254 726 228004
- +254 717 760 894
- P.O Box 8072 -00200 Nairobi