Short Term Loan Facilities.

With Ollin’s Personal Loans, you can get instant money for a wide range of your personal needs like renovation of your home, marriage in the family, a family holiday, your child’s education, buying a laptop, medical expenses or any other emergencies.

Types of Short Term Loan Facilities

Emergency Loan

The loan is meant to take care of unforeseen events such as hospitalization, funeral expenses and court fines.

Features:

  • The loan is 3 times multiplier subject to 1/3 rule as per government regulations.
  • Competitive interest rate.
  • Repayment period is 12 months.
  • The loan is secured by guarantors.

Education Loans

This is a loan meant to cater for school, college and university fees.

Features:

  • The loan is 3 times multiplier subject to 1/3 rule as per government regulations.
  • Competitive interest rate.
  • Repayment period range between 12 months to 24 months.
  • The loan is secured by guarantors.
  • The loans are instant.

Fanikisha Loan

This is a short term loan open to all salaried members whose salary passes through the SACCO.

Features:

  • The loan is processed the same day.
  • Competitive interest rate.
  • Repayment period of 18 months.
  • Security is guarantors.

Salary Advance Loans

This loan is open to all salaried members whose salary passes through the SACCO.

Features:

  • Repayment period is between 1 to 3 months.
  • No guarantors required.
  • Competitive interest rate.
  • Accessible via mobile banking platform *645#

Alpha Loan

This is a loan for the newly recruited teachers and civil servants who have salary accounts with the SACCO but are yet to receive the first pay.

Features:

  • The loan is processed the same day.
  • Maximum amount qualified is Ksh 200,000.
  • 40% is rolled back to the deposits.
  • Competitive interest rate.
  • Repayment period of 36 months.
  • Security is guarantors.

Business Loans

The Sacco offers loans to Small Medium Scale Enterprises(SMEs), business people and companies.

Features:

  • A member saves for at least two months.
  • Repayment period range between 24 months to 60 months.
  • Competitive interest rate.
  • Security is guarantors.

Stop Gap Loan

This is a loan to assist the newly retired members who are yet to receive their lumpsum pension.

Features:

  • The applicant has to produce evidence that the pension will be channeled through the SACCO.
  • The applicant should have cleared all loans before retirement.
  • Maximum qualified amount is 90% of the ones deposits.
  • The loan will be recovered once the lumpsum is received.
  • Competitive interest rate.

Pamoja Loan

This is a product open to registered self help groups who operates deposits account with the SACCO.

Features:

  • Repayment period is 60 months.
  • The group to operate a savings account for 3 months.
  • Competitive interest rate.