- info@majaneessaco.com
- Limuru , Mabroukie Tea Factory
- +254 745 537 367
- +254 743 588 078
- +254 745 239 348
College Loan
College Loan
Overview
The College Loan at Majanees RNWDT SACCO LTD is designed to help members finance higher education expenses. This loan provides the necessary funds to cover tuition, fees, and other educational costs, ensuring that members can pursue their academic goals without financial barriers.
Key Features
- Loan Amount: Based on the member’s deposits and eligibility.
- Repayment Period: Up to 12 months.
- Interest Rate: 1% per month on a reducing balance.
- Documentation Required: Supportive documents such as fee statements or admission letters.
Benefits
- Educational Support: Provides essential financial assistance for higher education expenses.
- Manageable Repayment: Offers a short-term repayment period of up to 12 months, keeping the financial commitment within a manageable timeframe.
- Affordable Interest Rate: The 1% reducing balance interest rate ensures that the loan remains affordable throughout the repayment period.
- Quick Disbursement: Funds are made available promptly to meet immediate educational needs.
Eligibility and Application
- Eligibility: Must be a member of Majanees RNWDT SACCO with sufficient deposits.
- Application Process: Submit the college loan application form along with necessary documentation, such as fee statements or admission letters.
- Processing Fee: A 1% initial processing fee is charged on the loan amount.