Yingira Nyumba yo Loan

 Yingira Nyumba yo Loan

This product is exclusively for FIC members to complete their houses for occupying. It is specifically designed for house finishing and/or furnishing to make it habitable.

Terms and Conditions

1. Maximum Loan amount 3 times total savings and IUS.

NB: not less than a third of the minimum amount shall be in shares.

2. Maximum Loan period 48 months
3. Grace period


Not more than 4 months (interest payable during the grace period)
4. Repayment frequency Monthly
5. Loan Interest At the prevailing rates approved by the AGM
6. Interest calculation method Reducing balance amortized
7. Loan processing fee 2% of the approved loan amount
8. Penalty fees 1% of the amount in arrears
9. Other fees Loan application fee of 10,000/= and Insurance fees according to insurance policy rates.
10 Security Savings/share capital/guarantors/business/tangible collateral, any other acceptable collateral.