Presently members are allowed to borrow up to three (3) times their deposits with the SACCO for any of the following loans. The SACCO process loans once every month except for emergencies and education which can be processed as they arise
Type of Loan
Maximum Limit (Kshs)
Maximum Duration
Normal/ Development Loan
750, 000.00
36 months
Emergency Loan
100, 000.00
12 months
Education Loans
100,000.00
12months
Household loans
75, 000.00
12 months
Premium finance loan
75, 000.00
12 months
Medical cover loan
65, 000.00
12 months
Re-organization loan
300, 000.00
36 months
Waiting period
Normal/Development - 60 days
Emergency/Education - 3days
Despite the 60 days waiting period for Normal/Development loans, we have continued giving out loans expeditiously within 30 days.
Loans are only given with sufficient and qualified guarantees.
To avoid inconveniences, there are various deadlines that were put by members during previous AGM:
Remittance of SACCO deductions by employer - 5th of very month
Submission of loan application forms - 10th of every month
Release of loan Cheques to members - 15th of every month
This is a voluntary saving plan where members are allowed to contribute separately (In addition to monthly deposits) towards a holiday fund. This amount can be taken as lump sum at the end of the year at no interest for holiday. Return of the amount is at the direction of the member should he wish to continue with the package. This product was introduced to allow members enjoy an interest free facility instead of the usual rush loan applications towards December of every year. Minimum contribution for this fund is Kshs. 500/- per month.
Through AIBK SACCO LTD a member can now join Kenya Union of Savings & Cooperatives Ltd (KUSCCO) housing fund. Through this fund a member can be able to own a shelter of his/her own whether readily built or finance cost of construction! Shelter is a basic human need and the demand for housing in the urban areas has far outstripped the available facilities. Therefore, we cannot sit back and watch our urban population suffer. We believe that this is a vehicle through which members can mobilize funds for construction of their own houses.
