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  • Kma Sacco Member's Loan Application

Get Kma Sacco Member's Loan Application

_________________________________________________________ (standing order/check off) E: GUARANTEE (To be completed by guarantors who are members of KMA SACCO. Please read the following statement carefully.) In consideration of guaranteeing the above or any lesser amount that may be approved, we the undersigned herewith accept jointly and severally the liability for repayment in the borrower's default. We understand that the amount in default may be recovered as an offset against our shares in .

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The Society shall give loans and advances to members of amounts ranging from 10,000.00 to a maximum of 35,000,000.00 with a repayment period of up to 120 months or as may be determined by the board of directors from time to time.

The minimum amount of time for loan approval is usually between 48 working hours and 2 weeks depending on the amount and type of loan.

A SACCO is an abbreviation of Savings and Credit Cooperative Organisation or Society. SACCOs are voluntary associations where by members regularly pool their savings, and subsequently obtain loans which they use for different purposes.

SACCO deposits 5,000.00 for principal members and Kes. 1,000.00 for members by introduction.

Payment can be made through the KMA Sacco Bank Accounts (shared below) or via MPesa Pay Bill No. 540900 (Use ID No./Membership No. as the account No.)... This is the money invested in the Sacco by the members/shareholders. ... Upon withdrawal from membership of the SACCO, the share capital is non-refundable.

They can save money and apply for low-interest rates loans. Members have the opportunity to benefit from simple loan terms and conditions. Compared to traditional banks, SACCOs offer members better interest rates if members need a loan during these challenging times.

Pay via KMA Sacco Bank accounts or MPesa Pay bill No. 540900.

SACCOs tend to offer lower interest rates, which are calculated on a reducing balance basis. Banks, on the other hand, offer high-interest rates and most banks calculate on a straight-line basis. An important thing to note about bank interest rates is that they can change during the tenure of your loan.

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© Copyright 1997-2025
airSlate Legal Forms, Inc.
3720 Flowood Dr, Flowood, Mississippi 39232
Form Packages
Adoption
Bankruptcy
Contractors
Divorce
Home Sales
Employment
Identity Theft
Incorporation
Landlord Tenant
Living Trust
Name Change
Personal Planning
Small Business
Wills & Estates
Packages A-Z
Form Categories
Affidavits
Bankruptcy
Bill of Sale
Corporate - LLC
Divorce
Employment
Identity Theft
Internet Technology
Landlord Tenant
Living Wills
Name Change
Power of Attorney
Real Estate
Small Estates
Wills
All Forms
Forms A-Z
Form Library
Customer Service
Terms of Service
Content Takedown Policy
Bug Bounty Program
About Us
Blog
Affiliates
Contact Us
Privacy Notice
Delete My Account
Site Map
Industries
Forms in Spanish
Localized Forms
State-specific Forms
Forms Kit
Legal Guides
Real Estate Handbook
All Guides
Prepared for You
Notarize
Incorporation services
Our Customers
For Consumers
For Small Business
For Attorneys
Our Sites
US Legal Forms
USLegal
FormsPass
pdfFiller
signNow
airSlate workflows
DocHub
Instapage
Social Media
Call us now toll free:
+1 833 426 79 33
As seen in:
  • USA Today logo picture
  • CBC News logo picture
  • LA Times logo picture
  • The Washington Post logo picture
  • AP logo picture
  • Forbes logo picture
© Copyright 1997-2025
airSlate Legal Forms, Inc.
3720 Flowood Dr, Flowood, Mississippi 39232