Stima Sacco loans; Application, Requirements, Branches and Interest Rates. 

Saccos are the best options for many Kenyans because they offer lower interest rates, lower insurance premiums, and various discounts. This Sacco gives you high returns on deposits, build cash reserves faster and investment opportunities. Stima Sacco loans are available and you can take according to your needs.

Stima Sacco Loans

This is a loan is financed for an extended period of time by the loanee. They are usually higher amounts. They include;

Normal Loan 1 and 2

• Interest rate: 12% for all
• Repayment: 48-60 months
• Maximum loan amount: 3 and 2 times your member’s alpha deposits

Super Loan

• Interest rate: 14%
• Repayment: 60 months
• Maximum loan amount: 4 times your Stima Sacco Savings account alpha deposits

Mwangaza loans 1 and 2

• Interest rates: 14% and 18% respectively
• Maximum loan amount: Kshs. 3 million
• Minimum deposit contribution: 10,000 per month
• Repayment: 48 and 60 months respectively

Premium Loan

• Interest rate: 14%
• Repayment: 72 months
• Minimum deposit amount: Kshs 1 million

Vuka Loan

• Interest Rate: 16%
• Repayment: 72 months
• Maximum loan amount: Kshs. 5 million
• Minimum deposit contribution: Kshs 7,500

Flex 1 and 2

• Interest rate: 15%
• Repayment: 15 months
• Maximum loan amount: 4 times member’s alpha deposit

Short Term Personal Loan Products

These are loans that have lower repayment periods. The highest has 12 months. The amount is also slightly lower.

Prime Advance Loan

• Interest rate: 18%
• Maximum loan amount: Kshs. 200,000
• Repayment: 12 months

Emergency School Fees Loan

• Interest rate: 12%
• Maximum loan amount: 3 times member’s alpha deposit
• Repayment: 12 months

Msingi Bora School Fees Loan

• Interest rate: 10%
• Maximum loan amount: 75% of Msingi Bora deposits
• Repayment: 12 months

Salary Advance Loan

• Interest rate: 5% per month
• Maximum loan amount: 100,000
• Repayment: I month

Business and Group Loan Products

If you want to expand, start or grow a business then the loans found in this category will suit you. These are loans that can be taken even by your large or small chama. This type of loan can be used for construction, agribusiness investments and so much more. Some of them include; working capital loan, Asset financing school loan, LPO loan, Investor loan, Stima Sacco plot financing loans, Makazi Poa Loans, and Mpawa loans.

Requirements for Stima Sacco Loans

• Appraisal Requirements.
• History of previous borrowing.
• A borrower must meet the set eligibility criteria.

Branches

For any inquiries, complaints or any other unclear issue. You can visit any of the following Stima Sacco Branches.

• Head Office Nairobi
• Mombasa
• Kisumu Branch
• Nakuru Branch
• Olkaria Branch
• Eldoret Branch
• Kawi Centre (South B)
• Nairobi CBD
• Embu

Read also; How to withdraw dividends from Stima Sacco