Development Loan

The Development loan is another great example of a loan service customized to enable you to enhance your educational skills, start-up and/or revamp your own business practice.
Is customized to enable you to enhance your educational skills, start-up and/or revamp your own business practice.

The Loan includes:-

  • Ceiling of amount borrowed capped at 3 times the member’s deposits
  • Interest rate 1% per month amortized.
  • Disbursement is on a 1st come 1st served basis.
  • Mandatory minimum monthly savings as follows:
    • Loans up to 1 Million: 1% of loan
    • Between 1 and 3 Million: 0.5% of loan
    • Over Ksh3 million: 0.25% of loan
  • Repayment up to maximum of 60 Months
  • Top up and refinance facility is available for this loan for members who have paid at least 1/3rd of the initial loan.

Equity Release Loan

The terms and conditions for the product are as follows:-

  • The loan product shall be secured by Assets other than the ones being acquitted using the proceeds of the loan.
  • The loan shall be advanced to a maximum of 80% of the Value of the Assets securing the loan.
  • All charges associated with perfection of the Securities for the Loan shall be met by the borrower and the process shall be executed by the Sacco lawyers.
  • The Interest rate for the Loan is 14 %p.a. amortized or as shall be determined by the board subject to the source pf the loan funds.A fixed rate shall however out for those preferring it.
  • The Maximum loan repayment period shall be 84months or shall be determined by the Board from time to time.
  • A loan processing fee of 0.6% one-off shall be charged to borrower’s payable over the first year of the loan.
  • In addition to the Asset securing the loan, the borrower shall execute a chattels mortgage with the Sacco lawyers.
  • The Asset shall be valued by reputable Valuers from the Sacco’s List of appointed Valuers before disbursement of the loan.
  • The Assets shall be insured with a reputable Insurance company through TIBA Insurance Agency throughout the period of the loan.

Asset Financing

The Sacco is keen to support  doctors seeking to acquire assets without the need to tie up any other properties as collateral. The SACCO remains the custodian of the asset documents of title for the duration of the loan. the member has to however show proof of payment of one thrid of the value of the asset.

The Loan includes:-

  • Ceiling of amount borrowed capped at two third of the value of the asset
  • Interest rate 14% per annum amortized
  • Repayment up to maximum of 60 Months


  • Account must be active
  • Duly filled loan application form
  • Sale agreement
  • Evidence of the 1/3rd payment to the seller and buyer
  • Copy of National ID for both seller and buyer
  • Copy of KRA PIN Certificate for both seller and buyer
  • Current Asset Valuation and particulars of the machine
  • Original Asset ownership documents e.g. Log Book, Title deed
  • Any other documents as may be required


Emergency Loan

The Loan includes:-

  • Ceiling of amount borrowed capped at 2 times the member’s deposits
  • Maximum loan amount Ksh. 150,000.00
  • Good credit history
  • No guarantors
  • Loan processing within one week
  • loan repayment up to 12 months
  • Interest rate at 1% per month amortized

Insurance Loan

Through this product, the SACCO offers full financing to an active member who wishes to take up one or several insurance covers for themselves or their family but is limited by the availability of cash for the premium.

No guarantors are required for this loan and its processing period is only 7 working days.

The Loan includes:-

  • Maximum amount of Kes. 150,000
  • Interest rate 1.17% per month amortized
  • Repayment up to maximum of 10 Months

Elimu Plus

Specifically designed for members who have secured admission to pursue their post graduate study, fellowship or any other course in the country.

The applicant must produce proof of admission and append an approved fees structure.

The Loan includes:-

  • Interest rate of 1.25% per month amortized
  • Ceiling amount borrowed capped at 70% of the school fees disbursed annually based on the performance/progress of the applicant
  • Proof of payment of 30% before loan disbursement
  • Repayment up to a maximum of 12 months
  • Security: The applicant to get a guarantor who will sign as witness for the loan(no deposit will be committed) and the applicant shall sign a loan
    agreement ( to be prepared by our lawyer)

Home Loan

This loan is only for purchase of fully built residential property ready for occupation in an urban area and not construction or off plan purchase.


  • Eligible for qualifying KMA Sacco members.
  • The Maximum loan amount to be pegged at 5 times the member’s deposits within the Sacco.
  • Repayment period is up to a maximum of 20 years.
  • The age of the member/applicant plus the repayment period should not exceed 60 years.
  • Financing is at 100% of the forced sale value of the property.
  • The interest rate shall be set by the Board from time to time, currently 14.0% p.a.
  • A first ranking charge over the financed property through the Sacco Lawyers.
  • Arrangement fee of 0.5% will be charged on the amount advanced. 
  • Other Charges for all legal, valuation and stamp duty costs associated with purchase of this property will be borne by the member.
  • The property shall be insured comprehensively though TIBA insurance agency throughout the repayment period at the cost of the borrower

 Documentation required to process applications:

  1. Reference letter from Employer confirming that the member is permanent and pensionable.
  2. Copy of ID /Passport.
  3. Demonstrated ability to repay the loan.                                                                                                                                                                     
    -Latest 6 months salary account bank statements.                                                                                                                                                       
    -Copies of Certified pay slips for the immediate past 3 months.
  4. Sale agreement.
  5. Duly filled Home Loan application form.
  6. Formal valuation of the property by the Sacco at borrower’s cost from the Approved Panel of Registered Valuers.
  7. For lease hold properties, the remaining lease period should be at least 50 years.
  8. Credit Life Assurance, mortgage value ceded to Sacco through TIBA Insurance Agencies.
  9. Insurance over the subject property covering all risks (fire, tornado, earthquake), its full value ceded to KMA Sacco through TIBA Insurance Agencies and renewed annually.
  10. The ability to pay to be based on individual’s consistent long term income subject to the two thirds rule in the certified payslip.
  11. Incase this is the only loan the member has in the Sacco, forced savings should apply as per policy.
  12. The Board to consider the applications on a case by case basis.



The Intern loan is a loan service customized for Interns and is informed by the existing gaps in our public service system causing salary delays. The product is customized to  provide a financial cushion for medical interns (Intern Medical Officers, Intern Dentists and Intern Pharmacists) upon their posting while they wait for their first salary.


The borrower undertakes to provide 3 guarantors as part of security for this loan. One guarantor shall be an active member of KMA SACCO, while the other two shall be either active members or fellow interns applying for the same facility.



The Loan includes:- Necessary documents required
  • Maximum amount of Kes. 50,000
  • Interest rate 1.34% per month amortized
  • Disbursement is on a 1st come 1st served basis.
  • Repayment up to maximum of 9 Months
  • Posting letter from the Ministry
  • Arrival letter dully signed by the Superintendent
  • Copy of your ID
  • Copy of your KRA PIN
  • Two passport size photos


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