Loan product
School Fees / Masomo Loan
Education-focused financing to help members meet school fee obligations.
TERM
12 Months
RATE
2% reducing balance
Share-based allocation rule
Maximum loan allocation limit is 3 times your accumulated total member shares.
Repayment policy
Starts
Repayments commence within 1 month.
Due date
Monthly repayment is due by the 15th.
Late penalty
Kshs. 30/day for late payment.