Long Term Credit Loans
Established in 2003, GDC Sacco has demonstrated a remarkable journey of growth and resilience.
Development Loans
This loan is designed to finance income-generating activities and investments. Members can borrow up to three times their deposit, with repayment periods ranging from 36 to 60 months.
- Members deposit Below ksh.500,000
- Multiplier - by three (3) times the member's deposit
- Repayment period - loans below Kshs 500,000/−−36500,000/−−36 months
- loans equal to or above Kshs 500, 000/-- 60 months
- Security: Fully guaranteed by withdrawable deposits or fully charged collateral
- Interest −13%−13% p.a reducing balance
Supersaver Loan:
This product is intended to finance income-generating activities and the purchase of long-term assets. Members can borrow up to four times their deposit, with a repayment period of up to 60 months.
- Members deposit Above ksh.500,000
- Multiplier - * four ( 4 ) of the member's deposit
- Security - Perfected collateral only
- Interest - 13%13% p.a reducing balance
Premier Loan:
This loan is available to members with a deposit of over Ksh. 1 million. Members can borrow up to five times their deposit, with a repayment period of up to 60 months.
- Members Deposit of over Kshs. 1Million.
- Multiplier −∗−∗ five (5)(5) of the member's deposit
- Repayment period - Maximum 60 months (5 years)
- Security: Perfected collateral only
- Minimum Monthly members deposit contribution - kshs. 10,000.
- Interest rate: 13%13% reducing balance
Daraja Loan:
This loan is designed to finance the education of members and their dependents. Members can borrow up to 60 months, with a repayment period of up to 60 months.
- Repayment period - Maximum 60 months ( 5 years)
- Security: Fully guaranteed by withdrawable deposits or fully charged collateral
- Interest −13%−13% p.a reducing balance
Emergency Loan:
This loan is available to members with a deposit of over Ksh. 1 million. Members can borrow up to five times their deposit, with a repayment period of up to 60 months.
- Security: Fully guaranteed by withdrawable deposits or fully charged collateral
- Maximum repayment period - 12 months
- Interest - 13%13% p.a reducing balance