9-Year Fixed Payment Loan
SPECIAL CONSTANT LOAN
Large-Sum Financing with Fixed Predictable Monthly Repayments
SPECIAL CONSTANT LOAN
Special Financing
Interest Rate
1.083% p.m. on flat basis
Repayment Horizon
108 months (9 Years)
Borrowing Limit
Exceeds Regular Loan Limits
Annual Equivalent
13.0% p.a. Flat
Product Name
SPECIAL CONSTANT LOAN
Interest Rate
1.083% p.m. on flat basis
Repayment Period
108 months (9 Years)
Security / Multiplier
Exceeds Regular Loan Limits
Purpose & Description
The purpose of a special constant loan in a SACCO is to provide a way for a member to borrow a large sum of money that exceeds their regular loan limit, while still making a single constant (amortized), consistent, and manageable monthly repayment on both the principal and interest. This product is designed for members who need significant funds.
Features & Qualification Criteria
The following are the exact mandatory specifications for SPECIAL CONSTANT LOAN:
i) Monthly repayment amount remains constant (amortized flat basis).
ii) Applicant must be a SACCO member.
iii) A third of the basic salary should remain after all the deductions.
iv) At least four (4) guarantors and one (1) witness required.
v) Two latest original pay slip.
vi) Monthly repayments commence not later than the month following disbursement.
Frequently Asked Questions
Can I borrow beyond standard caps?
Yes! This facility allows borrowing beyond standard caps with a single predictable monthly repayment.
Apply for SPECIAL CONSTANT LOAN
Please Visit Chuka University SACCO to Apply
To apply for the SPECIAL CONSTANT 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.