Interest / Dividend Advance Application

You can now access your interest on dividends early.

  1. An application must be made in Utabibu SACCO application form.
  2. The applicant must fill the application form in full including bank account details.
  3. Incomplete forms will be returned unconsidered. Payment facilitation shall be through Cheque, Mpesa or EFT. No Cash payment shall be done.
  4. The advance is granted in accordance with the following policy requirements, which may
    vary from time to time:
    i. A member can access up to 50% of the net interest on deposit/dividend for the preceding year.
    ii. The Society reserves the right to defer the advance if funds are not adequate, or other requirements are not met.
    iii. Guarantors for the advance shall be the member’s interest in deposit/dividend entitlement for the current year.
    iv. A one-off processing fee of 5% of the entitlement shall be applicable.
    v. The net payment shall be gross entitlement less than the processing fees.
  5. The applicant is required to attach one copy of the National ID card/passport showing both
    sides with the same details are provided on the loan form.
  6. The applications will be processed on a “first-come-first-served” basis within the period
    specified in the notice.
  7. A member will not be considered for this advance if she/he did not earn interest on
    deposit/dividend in the preceding year.
  8. A member will not be considered for this facility if she/he has a defaulted loan.

Download the form here