Our Products

Loans

Here are the

Loan Packages we

offer

Normal Loan

  • Given 300% (multiply the value of shares by 3) of member shares.
  • Can also be given 400% upon having a special request.
  • Recovery period of the loan ranges from seven to 36 months.
  • Interest rate is at 3.5% on reducing balance basis
  • Processing fee is at 4% of the total amount of the loan.
  • Insurance premium is 2% per amount approved
  • It is given based on member’s affordability (capacity).
  • It is ready after five working days of submission. Loan Applicants are notified when the loan is ready for payment telephonically by the responsible officer

Express Loan

  • It is ready on the same day of submitting Loan Application Form.
  • Loan processing fee is charged at 8.5%
  • Interest rate is at 3.5% on reducing balance basis
  • It is given based on member’s affordability
  • It is ready on the same day of submitting a Loan Application Form
  • Recovery period of the loan ranges from 7 to 36 months.
  • Insurance premium is 2% of the amount approved

Emergency Loan

  •  It is given on the same day after submitting the loan application form 
  • The minimum is K50,000 and it has no maximum.
  • The repayment period is six months.
  • Interest rate is 7%
  • Processing fee is 4%.
  • Insurance premium is 2%

Flexible Loan

  • This is a flexible loan which a member collects cash after submitting the loan application
  • The minimum is K50,000 and it has no maximum.
  • The repayment period is six months.
  • Interest rate is 7%
  • Processing fee is 4%.
  • Insurance premium is 2%

IGA (INCOME GENERATING ACTIVITY) LOAN OR MATERIAL LOAN

It is given on the same day after submitting the Loan Application Form.

  • It depends on member’s affordability.
  • Payment period ranges from one to a maximum period of six months.
  • A processing fee of 4% is paid by cash on the same day when a Loan Application Form is submitted.
  • The interest rate is at 3.5% on reducing balance basis
  • It is given in addition to other active loans, depending on the applicant’s affordability.
  • A member will be given authenticated receipts recognised by AGORA or any other identified material supplier within the applicant’s easy reach
  • The member then will present the receipt to their nearest Agora staff and collect the selected item.
  • Insurance premium is 2%

LOAN SETTLEMENT

  • The SACCO settles loans of up to MK500,000 with other institutions for new members
  • Members also can also negotiate for additional loans depending on their affordability.

REFINANCING/LOAN TOP UP

  • The SACCO settles loans of up to MK500,000 with other institutions for new members
  • Members also can also negotiate for additional loans depending on their affordability.

Notice

  • All loans are processed within 5 working days depending on the applicant’s requirements.
  • New members have an opportunity to access up to MK500,000 repayable within 24 months.
For More Information

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