Eagle’s Instant Loan
Meant to facilitate any members' immediate short-term financial needs.
Eagle’s Instant Loan
Meant to facilitate any members' immediate short-term financial needs.
Features
- The loan is processed and issued within one hour of application and payable in cash or mpesa.
- The amount given is a minimum of Ksh 5,000 and a maximum of Ksh 100,000.
- The interest rate is 5% for 1 month, 7% for 2 months, and 10% for 3 months.
- The repayment period is either 1 month, 2 months, or 3 months.
- The loan includes a penalty of 0.25% on the outstanding balance daily.
- No guarantors are needed.
Requirements
- A duly completed loan application form.
- Attach the applicant's ID copy.
- Any member who has saved consistently for six months or any member with an active loan qualifies for this loan provided their total outstanding loans does not exceed three times their deposits.
- The applicant is expected to make the required monthly contribution even as they are servicing the loan.