Overview
The Salary Loan is available to SACCO members in formal or regular employment. It provides a lump sum repaid in equal monthly instalments aligned to your salary payment date. Processing is typically faster than other loan types thanks to the predictable income source.
Eligibility Requirements
- Salaried SACCO member with verifiable employment
- Minimum savings history required
- Salary letter or payslip from employer required
- Not available to self-employed members (see Business Loan)
Key Benefits
Repayment Terms
- Repayment via monthly deductions aligned to salary date
- Maximum repayment period and interest rates confirmed at application
- Loan amount based on your savings multiplier and net salary
How to Apply
1
Visit the SACCO office with your documents
2
Speak with the Loans Officer to confirm eligibility and loan amount
3
Complete the loan application form
4
Provide employer letter or recent payslips
5
Await approval (typically within a few working days)
6
Receive funds upon approval
Apply for this Loan
Visit our office or contact us to get started. Our team will guide you through the entire process.
Enquire / Apply Now Email UsDocuments Needed
- National ID
- Recent payslips (last 3 months)
- Employer letter confirming employment and salary
- Completed loan application form