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ST. CHARLES LWANGA logoST. CHARLES LWANGASelf-Help Group · Githirioni

Member loans

Responsible financing for members

Loans are available to active members who have saved for at least six months. Borrow up to 5 times your shares at 1% per month on a reducing balance.

Development Loan

Financing for longer-term projects that build member assets and income.

Typical purposes

  • Business development
  • Construction
  • Home improvement
  • Investment
  • Other approved development purposes

Terms

Maximum Amount
Up to 5 times your shares
Interest Rate
1% per month on a reducing balance
Eligibility
Active member saving for at least 6 months
Loan Security Fund
1% of the loan amount is deducted
Repayment Period
1 – 5 years depending on the amount borrowed
Processing Time
1 – 5 working days (10 days above KES 1M)

Emergency Loan

Short-term support for unexpected and urgent financial needs.

Typical purposes

  • Medical emergencies
  • Bereavement expenses
  • Other urgent approved needs

Terms

Maximum Amount
Up to 5 times your shares
Interest Rate
1% per month on a reducing balance
Eligibility
Active member saving for at least 6 months
Loan Security Fund
1% of the loan amount is deducted
Repayment Period
Per the approved repayment schedule for the amount
Processing Time
12 – 48 hours

School Fees / Education Loan

Support for members meeting education costs for themselves or their families.

Typical purposes

  • School fees
  • College
  • University
  • Other approved education expenses

Terms

Maximum Amount
Up to 5 times your shares
Interest Rate
1% per month on a reducing balance
Eligibility
Active member saving for at least 6 months
Loan Security Fund
1% of the loan amount is deducted
Repayment Period
1 – 5 years depending on the amount borrowed
Guarantors
Minor accounts may guarantee school fees or medical loans

Personal / Normal Loan

General purpose financing for approved member needs.

Typical purposes

  • Household needs
  • Personal projects
  • Other approved member needs

Terms

Maximum Amount
Up to 5 times your shares
Interest Rate
1% per month on a reducing balance
Eligibility
Active member saving for at least 6 months
Loan Security Fund
1% of the loan amount is deducted
Repayment Period
1 – 5 years depending on the amount borrowed
Processing Time
1 – 5 working days

Loan terms

Terms on loans

  • The applicant must be active and must have saved with the group for at least six months to qualify for a loan.
  • All loans are to a maximum of 3 times one's shares.
  • The loan must be fully guaranteed, whether self-guaranteed or with other guarantors (where the loan exceeds own savings).
  • The loan applicant must fill a loan form, and the applicant together with all guarantors must provide copies of their National I.D.
  • Boosted savings are not considered when issuing a loan and can only qualify after 4 months (boosted savings is any amount above a third of your total savings).
  • Interest on loans is charged at 1% per month on a reducing balance basis.

Processing period

Emergency loan
12 – 48 hours
Normal loan
1 – 5 working days
Loans over KES 1,000,000
10 working days

Provided that all conditions are met.

Repayment

Loan repayment periods

AmountRepayment period
Less than KES 20,000Maximum of 1 year
KES 20,000 – 49,999Maximum of 2 years
KES 50,000 – 499,999Maximum of 3 years
KES 500,000 – 999,999Maximum of 4 years
KES 1,000,000 and aboveMaximum of 5 years

Loan Security Fund

A fund that provides affordable security against risks within the self-help group in case of insanity or death of members with outstanding loan balances. 1% of all loans borrowed is deducted towards the fund.

Loan calculator

Estimate your repayments

An illustration only. Actual terms follow the group's approved loan policies.

Interest method

Estimated repayment

Monthly repayment
KES 8,885
Total interest
KES 6,619
Total repayable
KES 106,619

This calculator provides an estimate only. Actual loan terms, interest and repayment amounts are subject to the group's approved loan policies (1% per month on a reducing balance). The calculator is for illustration only and does not constitute a loan approval or final quotation.

Ready to apply?

Speak with the group's office or committee to obtain a loan application form and confirm the current requirements.

Contact the officeRead the member guide