Loans – Bilal Sacco Limited
Thinking about your financial future? Our Loan products can get you one step closer to where you want to be
Discover Our Loan Products
At Bilal Sacco Society Limited, we understand that financial needs vary. That’s why we offer a range of loan products tailored to meet your specific requirements. Whether you’re looking to invest in your future, address urgent needs, or support your education, we have the right loan for you.
General Loan Requirements
To qualify for any of our loan products, you must meet the following criteria:
- Registered Active Member: Must be a member of Bilal Sacco Society Limited.
- Minimum 6 Months Membership: Active participation for at least six months.
- Fully Paid Share Capital: Ensure your share capital is fully paid.
- Regular Savings: Maintain consistent savings.
- Good Credit History: A positive credit record is essential.
- Loan Within Savings Multiplier: Loans must align with your savings multiplier.
- No Outstanding Arrears: Clear any pending dues.
Security Requirements
When applying for a loan, please be prepared to provide:
- Guarantors: Reliable individuals who can guarantee your loan.
- Collateral/Security: Assets that can secure your loan.
Supporting Documents
To facilitate your loan application, please provide the following documents:
- Payslips
- Bank Statements
- School Fee Structures
- Medical Documents
- Project Proposals
Our Loan Products
Development Loan
- Purpose: Asset building and investment
- Interest Rate: 1.5% reducing balance
- Repayment Period: 36 months
Education Loan
- Purpose: School fee financing
- Interest Rate: 1.5% reducing balance
- Repayment Period: 12 months
Phone Loan
- Purpose: Mobile devices and digital tools
- Interest Rate: 2% interest
- Repayment Period: 12 months
Eid & Christmas Loan
- Purpose: Festive support
- Interest Rate: 2% interest
- Repayment Period: 6 months
Emergency Loan
- Purpose: Medical and urgent support
- Interest Rate: 1.5% reducing balance
- Repayment Period: 12 months
Instant Loan
- Purpose: Quick short-term funds
- Interest Rate: 5% reducing balance
- Repayment Period: 6 months
Jistiri Loan
- Purpose: Hardship support
- Interest Rate: 2% interest
- Repayment Period: 3 months
Loan Eligibility Highlights
- Quick and easy application process
- Tailored loan terms to fit your needs
- Competitive interest rates
Your Financial Future Awaits
Let us work together to achieve a better financial tomorrow