What will be my allotment after I convert my loans to special loan

The allotment varies according to the amount of loans members are granted. The higher the amount the higher the allotment.

Can my payslip accommodate both Sacco and bank loan?

Members payslips may accommodate both bank and Sacco loans depending on the loan balances and the salary of the members. In some cases, only one category of loan may be accommodated.

Can I be eligible for special loan if I do not meet the 2/3rd requirement?

Members may qualify for loans beyond their 2/3rd check off limits/deductions. If such cases, members will be allowed to top up the differences via standing order using their rental incomes.

Other than rental income, can I be allowed to make payments towards my loan from a different source?

Our policy currently allows computation of members’ eligibility based on employment and rental income. However, after granting loans, members may use other sources of income to enhance their loan repayments.

What do I do if my deposits are insufficient to facilitate my bank and Sacco loan in an event, I do not have a tittle deed as collateral?

Members may boost their deposits to give room for a higher amount of loan by depositing cash into Balozi bank account, making mpesa payment to deposit, applying for Okoa advance loan and or m-cash and depositing the amount into deposit.

If I will be leaving USG and I have a Sacco loan what will happen to my deposits since I will not be able to pay loans per pay period?

Members will be allowed to provide the Sacco with a monthly loan repayment plan or contact the office for further guidance

What is the assurance that the SACCO is not going down because of loan restructure and how secure are my deposits?

The SACCO is a going concern and not closing its operation within a foreseeable period. The restructures are meant to enable members service their loans within their salaries and reduce the chances of default thus securing deposits.

Why is the SACCO not basing the loans to retirement age?

Currently the Sacco by law doesn’t discriminate members. All members are treated equally regardless of their ages. A member is allowed to continue with membership after retirement and enjoy all the Sacco services including loan facilities.

Why shouldn't the SACCO issue a letter that can be presented to PWC if a member took a development loan for them to get mortgage relief?

The SACCO gives out loans to members for development and other purposes. The Sacco doesn’t give a mortgage loan and may not know what the member used the loan for. However, the Sacco may issue a letter to confirm the loan granted to the member.

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Contact Us

Location: Golf View Suites, 3rd Floor, Muthaiga
along Wambui road, off Kiambu/Thika road
Postal address: P.O. Box 11539-00400, Nairobi.
Tel:  +254 (020) 2211600
Cell: +254 (0) 720 833326 / 733 967707
Email: info@balozisacco.com



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