Credit Facilities

Access affordable credit for your personal and business needs.

Boosa Loans
Given Three Times the member's deposit and must be fully guaranteed by Sacco members

Requirements:

  • •The product is issued to a member who has been active for the previous six months
  • •Rate of repayment is 12% p.a on reducing balance
  • •Repayable with a maximum of 36 months
  • •The products must be in line with the two third rules
  • •The applicant must sign a letter of offer and acceptance
Business Loans
The business loan shall be granted to members/customers who have businesses and wish to improve or expand their business

Requirements:

  • •Issued to account holders who have been active for at least three months
  • •The product must be fully secured and the security fully charged to Ammar Sacco Society Ltd
  • •The product must be guaranteed by two active account holders
  • •The products must be in line with the two third rules
  • •Rate of repayment is 18% on reducing balance
  • •Repayable with a maximum of 36 months
Mkulima Loans
Designed to meet the financial need of farmers

Coffee loan

  • •Designed to meet the financial need of the coffee farmers whose proceeds are channeled through the Sacco
  • •One month active account, fully paid member
  • •A very competitive interest rate
  • •A convenient repayment period
  • •A specific amount on investment deposits

Tea loan

  • •Designed to meet the financial need of the tea farmers whose proceeds are channeled through the Sacco
  • •One month active account, fully paid member
  • •A very competitive interest rate
  • •A convenient repayment period
  • •A specific amount on investment deposits

Milk loan

  • •Designed to meet the financial need of daily farmers whose milk payment is channeled through the Sacco
  • •One month active account, fully paid member
  • •A very competitive interest rate
  • •A convenient repayment period
Salary Loans
Issued to a client whose salary has been channeled through the Sacco

Requirements:

  • •The applicant should be a Sacco Shareholder
  • •Loanee must attach a commitment letter and a letter of confirmation from the employer
  • •Should be guaranteed by at least three people whose salary is channeled through the Sacco
  • •The products must be in line with the two third rules
  • •Flexible repayment period
Group Loans
Provides a platform for members of registered groups to consolidate their saving and access loan

Requirements:

  • •Group to actively operate account for at least 3 months
  • •Each group member contributes at least KES 500= per month
  • •Loan granted through members co-guarantee
  • •Interest shall be at prevailing market rates
  • •Period up to 36 months
LPO Financing
Designed to meet financial needs of suppliers and contractors to enable them deliver LPOs / LSOs effectively and efficiently

Requirements:

  • •A valid LPO/LSO from a recognized company
  • •Reference of previous work / supplies done
  • •The applicant must have an active account for at least three months
  • •A specific amount on investment deposits
  • •A completed tripartite agreement form showing the obligation of each party
  • •A convenient repayment period based on contract type
  • •Flexible collateral depending on loan purpose and amount
Development Loans
Designed to meet development needs of all sacco members

Requirements:

  • •Active account for at least three months
  • •Previous bank statements are also considered
  • •A specific amount of investment deposit
  • •Flexible collateral
  • •Repayment period up to 36 months
  • •Very affordable interest rate
  • •Top up provision after reasonable repayment
Mfugo Loans
Offers a convenient and suitable way for dairy farmers to acquire quality breeds of cows in order to increase production and returns

Requirements:

  • •One month active account
  • •Fully paid member
  • •Specific amount on investment deposits
  • •Cow to be comprehensively insured
  • •A convenient repayment period up to 24 months
Asset Financing
This is a product designed to assist members acquire assets more conveniently at affordable rates

Requirements:

  • •The applicant must have an active savings account for at least months
  • •The applicant must be a shareholder
  • •Repayable with a maximum of 36 months
  • •The product must be fully secured and the security fully charged to Ammar Sacco
  • •The product must be guaranteed by two active Sacco Members
  • •The products must be in line with the two third rules
Church Loans
Designed for churches

Requirements:

  • •The Church must have an active account for at least three months
  • •The Church must be duly registered
  • •Repayment period shall not exceed three years
Vijana Loans
Create an opportunity for the youths to actualize their dreams through access to loan facilities at an affordable rate

Requirements:

  • •Eligibility Given to individuals between the age of 18 and 35 years
  • •The applicant must have an active savings account for at least three months
  • •A specific amount of investment deposit
  • •Application to have a signed letter of offer and acceptance