Mwingi Mwananchi SACCO Development Loan
Mwingi Mwananchi SACCO
Last updated: April 16, 2026
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★★★★★
0/5Based on 0 Reviews
Interest Rate
13% p.a.
Loan Amount
Ksh 10,000 - Ksh 3,000,000
Approval Time
24-72 hours
Processing Fee
KshNaN
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Pros & Cons
Pros
- Competitive 13% interest on reducing balance
- Up to 3x deposits development loan
- Tailored for community sacco for mwingi residents - traders
- Mwingi HQ anchor branch
- Tenure up to 48 months
- KES 10k entry loan
- Drought hardship grace
- Diaspora remittance integration
Cons
- Restricted to regional common bond members
- Guarantors required from same SACCO
- Minimum 3 months deposits before first loan
- Processing can take up to 72 hours
- ASAL regional focus
- KES 3m ceiling
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Product Details
Features
- Community SACCO for Mwingi and neighbouring ASAL areas
- Low KES 10,000 entry loan amount
- Drought hardship loan with extended grace
- Diaspora member scheme with Western Union deposits
- Small business loan for market traders
- FOSA accessible via Mwingi agent banking points
- SMS-based balance and repayment alerts
Eligibility Requirements
Age: 18 - 60 years
Employment: Traders, Farmers, Small civil servants, Diaspora remitters
Required Documents
- National ID
- Membership certificate
- Payslips (3 months) or trade proof
- Guarantor forms (2+ guarantors)
- KRA PIN certificate
Repayment Options
Salary check-offBank transferM-Pesa
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