Education & Future Funding
SCHOOL FEES LOAN
Affordable Tuition & Education Loan for Primary, Secondary & University
SCHOOL FEES LOAN
Education & Training
Interest Rate
1.334% p.m. reducing balance
Repayment Horizon
12 months
Borrowing Limit
Up to 3X Deposits (Max Ksh 500,000)
Annual Equivalent
16.0% p.a.
Product Name
SCHOOL FEES LOAN
Interest Rate
1.334% p.m. reducing balance
Repayment Period
12 months
Security / Multiplier
Up to 3X Deposits (Max Ksh 500,000)
Purpose & Description
The purpose of a school fees loan is to provide a member with funds to pay for their own education or that of their dependents, such as children. These are short-term loans designed to cover the expenses of primary, secondary, or university education, as well as professional training, helping members manage their financial obligations and ensure continuous education without undue financial strain.
Features & Qualification Criteria
The following are the exact mandatory specifications for SCHOOL FEES LOAN:
i) A person should have saved with the Sacco for at least six months.
ii) Loan is given three (3) times the amount of deposits but should not exceed ksh500,000.
iii) A third of the basic salary should remain after all the deductions.
iv) Provide Four guarantors and one witness.
v) Provide two latest original pay slip.
vi) Cheque is drawn directly to the educational institution.
vii) Monthly repayments commence not later than the month following disbursement.
Frequently Asked Questions
Is the cheque issued to the member?
Cheques or EFTs are drawn directly in favour of the school, college, or university.
Can members apply for their own postgraduate studies?
Yes! Both dependents and member academic courses are fully covered.
Apply for SCHOOL FEES LOAN
Please Visit Chuka University SACCO to Apply
To apply for the SCHOOL FEES 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.