Urgent Compassionate Relief
EMERGENCY LOAN
Rapid-Disbursement Loan for Unexpected Health & Family Emergencies
EMERGENCY LOAN
Emergency & Compassionate
Interest Rate
1.334% p.m. on reducing balance
Repayment Horizon
12 months
Borrowing Limit
Up to 3X Savings (Max Ksh 300,000)
Annual Equivalent
16.0% p.a.
Product Name
EMERGENCY LOAN
Interest Rate
1.334% p.m. on reducing balance
Repayment Period
12 months
Security / Multiplier
Up to 3X Savings (Max Ksh 300,000)
Purpose & Description
The purpose of an emergency loan in a SACCO is to provide a member with quick and immediate access to funds for unexpected, urgent needs, such as medical bills, hospitalization, funeral expenses, or court fines. These loans are designed for fast approval and processing to help members navigate unforeseen financial shortfalls.
Features & Qualification Criteria
The following are the exact mandatory specifications for EMERGENCY LOAN:
i) Granted specifically for verified emergencies.
ii) Applicant must be a SACCO member.
iii) Loan up to three (3) times savings but not exceeding Kshs. 300,000.
iv) One-third (1/3) of basic salary must remain after deductions.
v) Four (4) guarantors, one (1) witness.
vi) Provide Two (2) latest original pay slips.
vii) Monthly repayments commence not later than the month following disbursement.
Frequently Asked Questions
What qualify as emergencies?
Hospitalization, urgent surgical operations, bereavement expenses, or unexpected court fines.
What is the maximum borrowing limit?
Up to 3 times your savings, capped at a maximum of Kshs. 300,000.
Apply for EMERGENCY LOAN
Please Visit Chuka University SACCO to Apply
To apply for the EMERGENCY LOAN, please visit our Chuka University SACCO Main Office to complete the official loan application form and submit your supporting documents (guarantor forms & payslips) with our credit desk.
Office: Chuka University SACCO Offices, Main Campus
Telephone: 020 231 0512
Email: This email address is being protected from spambots. You need JavaScript enabled to view it.