Loan Products

1. Salary Advance

  • Available to Salaried members who place a standing order through the bank. Maximum amount of K10,000.

1st Tier – Repayable in Three(3) months duration and at interest rate of 2% per month. 2nd Tier – Repayable in Six(6) months duration and at an interest rate of 3% per month. 3rd Tier – Repayable within Nine(9) months at an interest rate of 3.5% per month.

4th Tier – Payable within Thirty(30) days at 2.5%

2. Agribusiness Loan

  • Available to support members wishing to participate in agribusiness through an out-grower scheme. Loan amounts are dependent on earnings and ability to Tenure up to 84 months @ 22.5% interest p.a.
fruit, food, grow-3247447.jpg

3. Emergency Loan

  • Granted for unforeseen circumstances. Two(2) times a members deposits. Repayment period is 12 months. Interest rate is 6% per month. Maximum amount is K 10,000.
ai generated, fireman, firefighter-8438331.jpg

4. Golden Account

  • A product for retirees meant to provide a safe gap for you on retirement between date of retirement and receipt of your
  • Available to members leaving employment whose age is above 55. No interest is
  • The account to run for a maximum of 24
  • 30% of pension transferred to Latent to earn interest at 13% a.

5. Newbie Loan(SALARY A/C)

  • Settling-in loan for the newly employed who wish to maintain a salary account with Latent. Loan duration is 48 months at 22% p.a. Members must place a standing order with their bank for loan repayments and savings deposits.

6. Trande Finance

  • Business or individual members with confirmed orders may apply for this facility. 100% of the finance required may be accessed provided that the applicant undertakes for the order payments to be made through Sacco. Interest is at 10% of the profit. Maximum period is 3

7. Education Loan

  • Maximum loan amount is K100,000. Repayment period shall be 24 months at 20% p.a. A member must have 20% or more in their savings of the total loan being applied for. Its available to salaried members only.

8. Real Estate Loan

  • A member can access Three(3) times their savings deposit but, themaximum
    amount of the loan is K500,000. The Loan repayment period shall notexceed 48 months and interest
    will be charged at 22.5% p.a

9. Invoice Discounting

  • Maximum loan amount will be Three(3) times a members Saccodeposits
    and 80% of invoice value. Loan term will be as per invoice specifications, not exceeding 90 day

10. SME Loan

  • Available to members with a running business or with viable business plans. Loan must
    be up to Three(3) times a members deposits. Repayment period is36 months at 20%.

11. Micro Credit or Marketeer Loan

  • Market Traders who need small amounts of up toK5000 can
    get this loan and repay daily, weekly or monthly with up to 10% per month for a maximum of
    Three(3) months.

12. Asset Financing Loan

  • The Sacco has partnered with various providers to help members
    purchase water tanks, solar panels and household electronic appliances, farming
    implements/equipment e.t.c. Repayment period is 36 months. Loan amount is 3 times a members
    deposits up to a maximum of K50,000. Interest rate is22.5% p.a.

13. Working Capital

  • A short term loan advanced to Latent members to help fix cash flow needs. Repaid within Nine(9) months for an interest rate of up to 5% per month

Loan Refinancing

  • Latent members who are servicing loans with other lending institutions can
    apply to refinance all their loan obligations in order to access fairer rates offered within the Latent
    Sacco. Loan amounts are available for up to 3 times amembers savings deposits. Interest will be
    charged at 22.5% p.a.
Enquire Now
Scroll to Top