Mzima Sacco Loans

Effective 1^st January 2026

Mzima Springs Sacco is introducing Logbook Loans – giving you the flexibility to access funds using your motor vehicle as security.

💰 Access up to 50% of your vehicle’s professionally valued market price.
🕒 Enjoy up to 36 months repayment period.
⚡ Fast turnaround time for quicker financial support during emergencies.

At Mzima Springs Sacco, we’re continuously improving to meet your financial needs — reliably, quickly, and conveniently.

Starting 4th July 2025, members with title deeds from Mzima Springs Investment Company can use them as collateral for loans. Key highlights:

1. Loan Amount: Up to 75% of the market value of the title
2. Valuation & Legal Costs: To be paid by the member or deducted from disbursed loan.
3. Valuers and Advocates: Only Sacco-approved valuers and lawyers will be The list of prequalified service providers will be available at the Secretariat.
4. All standard loan conditions (repayment capacity and deposit-based borrowing limits) will still apply.

Learn more about the process here

Purpose

• Granted as short-term loans for investment purposes and repayment through check off system

Interest rate

• 1% per month on reducing balance

Suggested limit, terms & incentives

• Maximum of 3 times of member deposits to a limit of Kshs 5,000,000 (subject to the 1/3 rule)
• Only one normal 1 loan shall be granted at a time
• Easy loan top up facility possible

Suggested maximum term

• 72 Months

Purpose

• Loan serviced through bank standing orders, bank debit advice and not through check- off system.

Interest rate

• 1 % per month on reducing balance. Interest rate for this loan shall be revised by the MC from time to time

Suggested limit, terms & incentives

• Maximum of 3 times of member deposits or a limit of Kshs 3,000,000
• Only one off payroll loan shall be granted at a time
• Easy loan top up facility possible
• The minimum number of guarantors shall be four

Suggested maximum term

• 60 months

Purpose

• Granted due to unforeseen circumstances.

Interest rate

• 1% p.m. on reducing balance.

Suggested limit, terms & incentives

• Maximum of 3 times of member deposits or a limit of  Kshs. 500,000 (subject to the 1/3 rule)
• Only one  emergency loan shall be granted at a time
• Easy loan top up facility possible

Suggested maximum term

• 24 months

Purpose

• Granted for educational purposes

Interest rate

• 1% p.m. on reducing balance.

Suggested limit, terms & incentives

• Maximum of 3 times of member’s deposits up to a maximum of Kshs. 150,000 (subject to the 1/3 rule)
• Only one school fees loan can be granted at a time
• School fees invoice
• Easy loan top up facility possible

Suggested maximum term

• 12 months

Purpose

• Targeted to Strathmore students who have borrowed funds to cater for their needs or for investment purposes

Interest rate

• 1% p.m. on reducing balance.

Suggested limit, terms & incentives

• Maximum is equivalent to student member deposit.
• The loan should be fully guaranteed (fellow students can guarantee)
• Only one student loan can be granted at a time
• Easy loan top up facility possible

Suggested maximum term

• 24 months

Purpose

• Shall be granted against a member’s salary

Interest rate

• A commission will be charged as follows;

  • 5% on the first month
  • 6% on the second month
  • 7% on the third month

Suggested limit, terms & incentives

• One salary advance per month
• No guarantors needed

Suggested maximum term

• 3 months

Purpose

• Granted to new members who have not attained the 6 months’ probation period but have been in the SACCO for at least 3 months

Interest rate

• 1% per month

Suggested limit, terms & incentives

• Maximum of 3 times of member’s deposits up to a maximum of Kshs. 100,000 (subject to the 1/3 rule)
• Only one Karibu loan can be granted at a time
• Loan should be fully guaranteed.
• Upon attainment of the 6-month period, a member cannot be offered the Karibu loan.

Suggested maximum term

• 24 months