Bima Loan

This is a loan given to a member who wants to acquire insurance of any kind through the agency of this Sacco.

Loan Appraisal:
1. This loan is based on 2 times of one’s shares.
2. This loan can be given either through, the payslip considering 1/3 rule or the net salary for those channeling their salaries through the Sacco.
3. This loan is guaranteed by at least 2 individuals who have shares in the Sacco.
4. Once the Bima loan is given, the society pays for the member insurance directly to the insurer either through a cheque or any other acceptable method by the Sacco.
5. No cash is given to the member.