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Education Loan

Application Form

Actions Required

- Please download the Draft Letter of Approval using the link provided in the new section.
- Have your guarantor(s) complete and sign this letter.
- Upload the completed, signed letter(s) in the designated application section.

Full Name (as it appears in your ID)

SACCO Member Number

National ID Number

KRA PIN Number

Email

Mobile Number

Alternate Mobile Number

Occupation

Net Income per Month

Monthly Expenditure

Residential Address (Area, Street, Plot, House)

Place of Work (Name, Area, Town, Location)

P.O. Box

Postal Code

City/ Town

Loan Request (Max 3x your main savings)

Loan Request (in words)

Monthly Installments Period

Monthly Installments Amount

Purpose of (please give full details)

Refinance Loan

Yes No

Loan Security Provided
(Tick all that apply and refer to the Sacco Lending Policy for guidelines on each form of security)

Disclaimer: All Express Loan requests are recovered within 3 months plus an interest of 5% per month on reducing balance.

Full Name (as it appears in their ID)

SACCO Member Number

Full Name (as it appears in their ID)

SACCO Member Number

Full Name (as it appears in their ID)

SACCO Member Number

Full Name (as it appears in their ID)

SACCO Member Number

Full Name (as it appears in their ID)

SACCO Member Number

Repayment Starts In

Deposits Before Loan Deductions

Modes of Payment for Loan below One Million

Account Name

Bank Name

Branch

Account Number

Bank Code

Signature

Upload Signed Letter of Approval from Guarantor

Loan Rules

I understand that the Lending Policy is the guideline for this application. Below are the basic rules;

Members must have been contributors for a minimum period of six months.
Lump sum contributions for the purpose of securing a loan from the Sacco will be considered only if such money remains in the Sacco for at least three months.
Guarantors must be members of the Sacco, and the amount guaranteed must not exceed the guarantors’ deposits.
In case of default in repayment, the entire balance of this loan will immediately become due and payable at the discretion of the Management Committee. The member will also be liable for all costs incurred in the recovery of this loan.
The Management Committee may require additional information to ascertain the ability to repay.
Loan applications are considered in the order they are received.

Applicant’s Declaration

I declare that the statements herein are correct and true to the best of my knowledge.
I understand that it is an offence, liable for prosecution, to give false information regarding deposits, loans and guarantees.
In case of default on this loan, I hereby authorise the Sacco to deduct my deposits and any other credit balances and charge a penalty of 5% per month on late payments.
I agree to abide by the Sacco’s bylaws, lending policy and any variation by the Management Committee in respect of this loan.
I authorise the Sacco to carry out credit checks with or obtain my credit information from a credit reference bureau. I consent that my name and credit details be forwarded to a credit reference bureau for listing.
I pledge to notify the Sacco of any change of address and telephone number(s).