EDUCATION SCHEME
Membership is open to members of Banki Kuu SACCO Society Ltd. To join the Scheme, fill in a membership application form and pay a registration fee of Kes 100. A member is required to make a minimum monthly contribution of Kes 500 and is eligible for a loan Thrice his/her shares and repayable within two years at an interest rate of 13.5% p.a. on a reducing balance. The sources of funds include a revolving fund from members’ deposits and borrowings from the Co-operative Bank of Kenya.
EDUCATION LOAN FACILITY
GET FUNDING FOR YOUR OWN OR YOUR KIDS EDUCATION.
Membership is open to members of Banki Kuu SACCO Society Ltd. To join the Scheme, fill in a membership application form and pay a registration fee of Kes 100. A member is required to make a minimum monthly contribution of Kes 500 and is eligible for a loan twice his/her shares based on his/her shares held on 30th June of the immediate past year and repayable within a calendar year at an interest rate of 13.5% p.a. on a reducing balance. The sources of funds include a revolving fund from members’ deposits and borrowings from the Co-operative Bank of Kenya.
FEATURES | PACKAGE DETAILS | ||
Registration | Must be a member of Education Scheme | ||
Monthly Contributions | Education Savings Scheme contributions | ||
Loan Eligibility | After 6 months of continuous contributions | ||
Repayment | 24 months | ||
Interest Rate | 13.5% p.a reducing | ||
Loan Entitlement | 3x Education Scheme Savings. | ||
Restructuring & Top-ups | Yes | ||
Top-up /Restructuring fee | 2.5% One-off |
CHEQUE ENCASHMENT FACILITY(CEFE)
Encash your cheque against your deposit the facility is open to all members in any of the schemes. Members can encash their personal cheques against their deposits to a maximum of kes 50000 in the premium package kshs 50000 in the platinum package repayable within 30 days from the date of issue members will be required to enclose a cheque including 10% fee of the value of the cheque the fee will be charged at a flat rate regardless of the duration of the repayment period
FEATURES | PACKAGE DETAILS | ||
Registration |
Must be a member of Education Scheme (Open to all members in any of the Schemes) |
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Monthly Contributions | Education Savings contributions | ||
Loan Eligibility | After 6 months of continuous contributions | ||
Repayment | 30 days from the date of issue with the option of rolling over upon payment of 10% | ||
Interest Rate | 10% of the cheque value | ||
Loan Entitlement | Max. loan 50,000 Kshs. |