Products & Services
Our Products
The Utabibu Cooperative and savings Society exists to pool together members’
savings and extend credit to them in accordance with the cooperative principles.
The SACCO offers a variety of loan products to serve the needs of members at competitive rates. Members must save for at least six consecutive months to qualify for any loan product and are allowed to run only one loan product in each category at a time. All loans granted must be fully secured and guaranteed and are given taking into account qualification based on the multiplier in place (currently 3 times the member’s savings) and ability to repay. Interest is payable on reducing balance.
Development Loan
This is usually a major loan for development purposes e.g. Land purchase, house purchase or building, car purchase etc
- The maximum repayment period is 72 months.
Housing Loan
This is a long term loan product repayable in 72 months. It is meant to help members acquire Utabibu Investment Cooperative products.
For example:
- Land on offer for sale
School Fees Loan
Granted once a year and repaid within 12 months. The application form for this loan must be supported by documents from school.
- Two cheques may be drawn; one in the name of the learning institution and the other in the name of the member.
Emergency Loan
Granted for purpose of sudden hospitalization, funeral, and court fine only should always have genuine supporting documents.
- Maximum repayment period is 12 months.
Refinancing Loan
This type is granted to members who already have development loans taking into account the ability to repay (1/3 rule).
Instant Loan
This is a short term loan repayable in three months.
- One can receive up to twice their net monthly pay subject to a maximum of Kshs.100, 000.
Jibambe Loan
This is an asset financing arrangement granted for the purpose of acquiring household products.
- Jibambe loan is repayable in 12 months.
Epuka-Shylock Loan
Is a short term advance repayable within 30 days (1 time deduction) subject to the 1/3 rule.
Savings Products
This savings products granted for the sole purpose of enabling you meet your goals.
These include:-
- School fees savings
- Holiday savings
The Utabibu Regulated NON-WDTS LTD exists to pool together members’ savings and extend credit to them in accordance with the cooperative principles.
