- info@majaneessaco.com
- Limuru , Mabroukie Tea Factory
- +254 745 537 367
- +254 743 588 078
- +254 745 239 348
Refinancing Loan
Bridging Loan
The Bridging Loan at Majanees RNWDT SACCO LTD is designed to provide members with short-term financial support to cover gaps between outgoing expenses and incoming funds. This loan is ideal for managing immediate financial needs while awaiting more substantial funding.
Key Features
- Loan Amount: Members can qualify for a loan up to three times their total deposits.
- Repayment Period: The loan is repayable over a period of up to 60 months (5 years).
- Interest Rate: 1.5% per month on a reducing balance.
- Bridging Charges: A 15% charge on the amount bridged.
Benefits
- Immediate Financial Support: Provides quick access to funds to manage urgent financial needs.
- Flexible Repayment: Offers a manageable repayment period of up to 60 months.
- Competitive Interest Rate: The reducing balance interest rate ensures lower interest payments over time.
- Large Loan Amounts: Allows members to borrow a substantial amount relative to their deposits.
Eligibility and Application
- Eligibility: Must be a member of Majanees RNWDT SACCO with sufficient deposits to meet the loan criteria.
- Application Process: Complete the loan application form with necessary documentation.
- Processing Fee: A 1% initial processing fee is charged on the loan amount.
Summary
The Bridging Loan from Majanees RNWDT SACCO LTD is a practical solution for members needing immediate financial assistance while awaiting other funds. With favorable terms and substantial loan amounts, it provides the necessary support to bridge financial gaps effectively. Apply today with Majanees SACCO for timely financial support.