Restructuring Loan

The Loan Restructure is a product that seeks to help members repay their loans by reducing their monthly loan repayment amounts and increasing their loan term. This will help members who have genuine challenges repaying their loan

Features

Loan Restructure has no cash benefits
The applications must be accessed and approved by the Credit Committee
Repayment must be through checkoff
Not less than 5 guarantors subject to amount applied
The maximum limit that members can restructure is Kes. 800,000
Repayment period on restructure of loans is up to 60 months
Loan entitlement is four times of member’s savings
Commission for the existing loan is 10%