Can a member use dividends or interest rebates to clear loan?
Yes, by communicating the same in writing.
Yes, by communicating the same in writing.
Guarantors Deposits in the SACCO Land –Title deed Vehicles Log-book
The right to obtain a copy of the letter of guarantee or contract of guarantee and any other documents in relation to the loan transaction. The right to the information on the outstanding balance of the account of the borrower with the…
Any active member in good standing is allowed to be a guarantor provided that one has not over guaranteed. A guarantor must be willing and able to repay the loan guaranteed if the borrower fails to pay.
Guarantors are jointly (together) and severally (individually) liable for the repayment of a loan in the event of the borrower’s default.
YES. If your account enables you to get a loan, then that account acts as a guarantor you can also use Title Deed or Logbook to secure a loan from Faidisha sacco
No. Any amendments on interest will affect new applications only
No, you will save on interests.
YES. You can get a loan as an individual in the group where members guarantee you OR get a loan as a group for development purposes where you bring security.
Members admitted in accordance with the membership policy
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