Life is unpredictable. Once in a while, we have to look for a loan to survive. Many people survive on loans, and many have grown business empires out of SMEs just by taking out loans. Sadly, many are hampered from accessing loans and credit due to a lack of security.
But if you are a member of Stima Sacco, getting a loan is one of the easiest ways to survive and grow your wealth. Apart from low interest rates, Stima Sacco, the largest Sacco in Kenya and second largest in the region in asset base, accepts a wide range of flexible securities.
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Here are some of the things that Stima Sacco will accept as security to give you a loan:
Your deposits
As a member of Stima Sacco, you can self-guarantee and borrow up to 90 percent of your Alpha Deposits. This is the easiest way because your cash acts as security.
Title Deed
As a member of Stima Sacco, you can use your title deed for all their loans. The title deed should be free from any encumbrance to qualify as security.
Your car logbook
You can use your logbook as security for all loans from Stima Sacco. The vehicle has to be eligible for Comprehensive Insurance coverage to qualify as a security.
Corporate Guarantee
This is for companies that are registered as members of Stima Sacco.
Shares listed in the NSE
As a Stima Sacco Member, you can use up to 50 percent of your NSE shares as security for any of their loan facilities.
There is no doubt that Stima Sacco is one of the best Saccos around. With more than 200,000 members, Stima Sacco has over 50 years been helping Kenyans to save and get loans for various purposes.
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