Unaitas Sacco types of loans and application requirements

Unaitas offers the best loans with low interest rates.The Sacco provides Long and short term loans to members.

LONG TERM LOANS

1. Development Loan
2. Maono Group Loan
3. Biashara Loan
4. Project Loan
5. Asset Finance Loan

SHORT TERM LOANS

1. Inuka Loan
2. Kilimo Poa Advance
3. Salary Advance
4. Business Quick Fix
5. Mo-Cash
6. School Fees

LONG TERM LOANS

Development Loan

This is an all-purpose loan facility advanced to all Members planning to make improvements on or fund an investment.

Features

• Have maintained an active account with Unaitas.
• Loan term is up to 3 years.
• Provide security. Security options include:
• Land Titles or Allotment Letters
• Listed stocks at the NSE.
• Paid up insurance policies.
• Certified fixed deposits
• Movable assets acceptable as security by the Sacco.

Requirements

• You need to be a Sacco member.
• A duly completed loans application form.

Maono Group Loan

As a group or Chama looking to finance your big dream aimed a common target, this loan facility is ideal just for those plans.

Features

• Loan upto a maximum of 4 years
• Chargeable Security
• Loan Security Deposit
• Group or Company Savings Account

Benefits

• Low interest rates
• There is co-guarantor ship if borrowing as group members
• Flexible repayment terms

Biashara Loan

Designed to help expand and boost your business, the Unaitas Business Loan makes your business plans a reality.

Features

• Loan term of up to 3 years.
• Loan amount dependent on ability
• Lending in accordance with Sacco lending policy
• Loan security fund with 10% exemption based on security pledged
• Flexible repayment frequency

Requirements

• Be a Unaitas member.
• A duly completed loans application form.
• 3 months active account operation or verifiable statement from previous bank.

Project Loan

Are you a group pursuing a common project or an individual involved in a project? This facility is designed to help groups or individuals meet their project objectives.

Features

• The use of the funds to meet the minimum criteria as per the policy definition of what constitutes a project.
• Loan term is up to five years depending on the nature of the project.
• It must be secured

Requirements

• You need to be a Sacco member.
• A duly completed loans application form

Benefits

• As our member, you will be able to realize your projects without strain.
• Members health insurance
• Three months grace period
• Flexible repayment options

Asset Finance Loan

Get the deal you deserve at a rate you can trust, and acquire that asset you want with speed and ease, at more flexible terms.

Features

• Financing age as per Unaitas asset finance schedule
• Imported assets of upto 12 years
• Loan term of up to three years.
• upto 80% financing
• Asset used as security

Requirements

• Be Unaitas member.
• A duly completed loans application form.

SHORT TERM LOANS

Inuka Loan

Against a definite expected income (money received on a regular basis from work/investment), you can secure an advance loan on it.

Features

• Up to 6 months loan targeting all Sacco members to finance emerging members needs based on market realities
• Loan offered against definite expected income stream. Seasonal lump sums e.g. mini and main tea bonus, pensions among others.

Benefits

• Flexible borrowing options
• The application process is short and simple

Requirements

• You need to be a Sacco member
• Confirm expected lump sum income to be channelled through the Sacco

Kilimo Poa Advance

Members can secure a loan against proceeds from cash crops (tea, coffee, etc.) or animal produce (dairy, poultry, etc.) that are channelled through Unaitas.

Features

• Loan term is up to 6 months.
• Loan security options:
• 1-2 Guarantors depending on Loan amount.
• Guarantors must be Sacco members.
• Application form attested by a commissioner of oaths at a fee where applicable.
• Refinancing (Express Advance) allowed during loan term.

Benefits

• Flexible borrowing options
• The application process is short and simple
• Refinancing during the loan period is allowed

Requirements

• You need to be a Unaitas member
• Confirmed proof that proceeds are channelled through the Unaitas.
• Your proceeds pay slip for the latest month where applicable.
• A duly completed loans application form.

Salary Advance

This is a short-term loan for members who channel their salaries through the Sacco.

Features

• Short-term loan targeting members on employment and whose salaries are channeled through the Sacco.
• Loan amount is dependent on borrower’s salary.
• Loan term of 1- 6 months.
• Monthly repayment.
• Check off system where applicable.

Benefits

• Flexible borrowing options
• The application process is short and simple.

Requirements

• You need to be a Sacco member.
• Confirmed proof that salary is channeled through the Sacco.
• Original current pay slip for the latest month.
• A duly Completed loans application form

Business Quick Fix

This is top up advance for members who already have business loan.

Features

• Advance for business people
• Up-to-date Existing Business Development loan
• Unsecured Advance
• Loan term up to 4 months
• Monthly/daily repayment frequency
• No LSF required

Benefits

• Flexible borrowing options.
• The application process is short and simple.
• Unsecured Advance
• Flexible repayments
• Interest on reducing balance

Requirements

• Be a Unaitas member.
• A duly Completed loans application form

Mo-Cash

It is a loan that you get via your mobile harsh by dialling *493#. The is for all SACCO members against proceeds from cash deposit and a credit scoring appraisal

Features

• Loan term is upto 1 months
• Prequalified through mobile payment usage
• Maximum qualification of upto Kes 10,000
• Account operation with Unaitas

Benefits

• Enable one to address school tuition needs.
• Accessible on mobile phone
• Flexible repayments

Requirements

• Be a Unaitas member.
• Application via a Unaitas registered mobile number

School Fees

Loan meant to meet our customer’s short-term needs of paying school fees.

Features

• Low interest rate
• Repayment period of 1 year
• Flexible Security

Benefits

• Enable one to address school tuition needs.
• Accessible on mobile phone
• Payable directly to the academic institution
• Loan limit depend on ones ability

Requirements

• Be a Unaitas member.
• A duly Completed loans application form