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31,000 Customers
Jan 1 1999
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Dimkes DT Sacco Ltd > Loans > Chama Loan

Chama Loan

Chama loans are designed to enable registered self-help groups, welfare and investment groups to acquire loans for wealth creation of its members

Features and requirements of Group loans:

  • Group must be registered with the relevant authority
  • Membership of Group shall be at least 10 members
  • Group shall provide minutes authorizing the application of a loan facility which shall be stamped and certified by Oversight Ministry.
  • At least 2/3 of group members must sign the minutes
  • Loans to be guaranteed using duly executed and registered personal indemnity guarantee by all members.
  • Group must have saved consistently for a minimum of six months.
  • Monthly Loan repayment amount for loan applied should not exceed 90% of monthly total savings for last six months.
  • Maximum loan accessible under this product is Ksh.1 Million.
  • Tangible security to be provided for loans above one million up to a maximum of Ksh.20 Million for 72 Months.
  • Interest rates as low as 1.25% p.m. reducing balance
  • Loans repayment period up to 36 months
  • The loan will attract a 2% processing fee and loan insurance of 0.6% p.a
  • All legal Fees/Costs shall be borne by the applicant.
  • A dedicated Chama Officer to offer free training and financial advisory
  • Group personalized cheque book available to ease group account operations
  • Free monthly E-Statement

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