- Minimum Qualifying amount is KShs. 5000.00 while the maximum amount is KShs. 60,000.00 subject to member’s individual scoring.
- An interest rate of 5% is recovered upfront from the amount borrowed.
- Maximum repayment period is 30 days from the day of disbursement.
- A member must be registered for mobile banking services to access this product.
- A member can borrow as many times as possible so long as s/he does not have an outstanding QC loan.
- Repayments of the QC loan are done by direct deposit to FOSA or mobile deposits followed by self-initiated transfer to the loan.
- A penalty of 1% is recovered and loaded on to the loan in case of default.
Eligibility for this product is a continuous membership period of at least 6 months with consistent regular monthly contributions.
