Our Share Loans
In addition to our current loan products, the share loan product has been developed to encourage KDI members to buy more shares hence increasing the SACCO's capital base.
Requirements from SACCO to qualify for the share loan product
Active SACCO Account
Without neglecting the eligibility criteria that must be followed by management as per the SACCO lending policy guide lines, the person will have an active SACCO account before applying for the share loan.
Upon asking for a loan, a member must have 100 shares and have borrowed at least 3 times without defaulting.
The minimum operating balance of any member applying for a share loan will be UGX. 100,000 and this will not at any one time go below UgX 100,000 unless upon closure of the account.
The person intending to borrow a share loan must have been saving with the SACCO minimum of shs 50,000 in the previous consecutive 6 months.
Criteria to be met by members for eligibility of the KDI Share Loan
- Should have at least 100 shares in the SACCO.
- Should have serviced at least 5 loans in the SACCO.(Other loan products)
- Should have a good credit history.
- Should have been an active member of the SACCO for at least 2 consecutive years.