Loan Products
Loan Products
Loan is awarded four times members savings.
Interest rate of 1.5% per month on a reducing balance.
Repayment period of up to 72 months.
Up to 3 times your basic salary
Repayment period of up to 6 months
Interest rate of 1.1 per month.
Loan is granted up to a maximum of 3 times the members deposit.
Disbursement is on 1st come 1st serve basis.
Repayment up to maximum of 60 months.
Top up and refinancing facility is available for this loan for members who have paid at least 1/3rd of initial loan.
The Bridging Loan is designed to help members settle or buy off their
existing SACCO loans by applying for a new loan that clears the
outstanding balance. This allows members to consolidate their
obligations, restructure repayment terms, and access additional funds
where eligible.
The bridged loan is treated as a completely new facility and must be
fully guaranteed with new guarantors — previous guarantors are not
automatically retained.
Interest rate of 1% per month on reducing balance for repayment period of 12 months.
Granted up to a maximum of 200,000.
Interest rate of 1% per month on reducing balance.
Repayment period is within the calendar year.
Granted up to maximum of Kshs 200,000.
Loan Application Process
1
Step 1: Login
Click the link below to access the portal: https://coopmis.coretec.co.ke:8858/Account/Login/?returnUrl=%2F
Enter your Member Login credentials to continue.
2
Step 2: Start Loan Application
- Go to the “Loans” tab.
- Click “Loan Application”
- Select “New” to start a new loan request.
3
Step 3: Fill in the General Information Page
Enter the following details:
- Loan Product Type (e.g., Development Loan, Emergency Loan)
- Installments/Months (Period) – e.g., 60 months
- Amount Applied (Ksh) – e.g., 600,000
- Main Sector – e.g., Agriculture
- Subsector Level 1 – e.g., Crop Farming
- Subsector Level 2 – e.g., Roots and Tubers
- Tick CRB Consent checkbox (Mandatory)
Click Save to continue
4
Step 4: Add Guarantors
- Go to “Loan Guarantors List”
- Search and add guarantors by their Member Number
- Each guarantor will receive a notification through the system to accept or reject the guarantee
- Ensure all guarantors have responded before submission
5
Step 5: Provide Income Documents
- Go to “Salary Details List”
- Upload your latest certified payslip or certified bank statement (PDF or image format)
6
Step 6: Submit Your Application
- Review your application carefully
- Click “Submit Loan” to forward it for processing
General Loan Terms
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Must be a member for at least 6 months and save consistently.
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One can apply for salary advance immediately after joining.
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Loan must be fully guaranteed/secured
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Loans approval will be considered on 1/3 of employees monthly basic salary.
Lump sum deposit boosting is welcome subject to 3 months waiting period before borrowing.
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A guarantor must be a member of the society and should not guarantee more than his deposits.
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Guarantors total amount should be equal to the difference between amount applied and your deposits.
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Other securities accepted are Log book and title deeds and all cost in processing the security are transferred to the applicant.
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No loan processing fee is charged
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All loans are covered against death and total disability at the rate of 2% charged on disbursement.
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1% of all loans disbursement are deducted and credited on individual share capital.