Holiday Scheme
It may be best to pay for holidays using savings but a loan can be a way to fund a trip that you can't quite cover in one go. Our guide can help you decide
Holiday Loan Facility
The Society introduced a Holiday Loan Scheme to enable members to save and plan for their holiday in an easy and affordable manner. Membership is open to all members of the Society. A member is required to make a minimum monthly contribution of Kes 500 and each member is entitled to two times his/her savings. The loan will be repayable within 24 months at an interest rate of 15%.e within 24 months at an interest rate of 15%
| FEATURES | PACKAGE DETAILS | ||
| Registration | Must be a member of Holiday Scheme | ||
| Monthly Contributions | Holiday Savings contributions | ||
| Loan Eligibility | After 6 months of continuous contributions | ||
| Repayment | 24 months | ||
| Interest Rate | 15% p.a reducing | ||
| Loan Entitlement | 2x shares subject to cost of the trip | ||
| Restructuring & Top-ups | Yes | ||
| Top-up /Restructuring fee | 2 months’ charge at 20% per annum | ||
