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Our Interest is no Comparison to Banks with just one non-binding application. We save you the hassle of Borrowing at High interest Rates
It takes 2 min. To fill out the application, you immediately get response from our Team.
We save you not only time, but in many cases also many thousands of Shillings
If a member wants to borrow an amount below UGX 1M, they can get triple the amount of their savings
If a member wants to borrow an amount above UGX 1M, they can get double the amount of their savings
A member must fill the SACCO loan form and have it signed by 2 guarantors.
All this is subject to 30% take home requirement for NMG employees.
For members outside, they must have a standing order effected for the period of loan repayment
The SACCO office handles emergency payments as and when they arise
The SACCO does not have loan refinancing
Loan forms are received daily by the Sacco office. The loans committee sits on Wednesdays and members are paid on Thursday and Friday
The maximum loan period is 36 months for the 1st loan at an interest rate of 1% on reducing balance
Maximum 24 months for the 2nd loan at an interest rate of 2% on reducing balance.
Maximum 12 months for the 3rd loan at an interest rate of 4% on reducing balance.
You can pay back your loan before the loan period requested. And you only pay the interest outstanding for that month.
You cannot change your loan application after it has been paid out
Whether you need to borrow for renovation, car, holiday or want to combine your loans into one single loan, we will help you
At Monitor Sacco, we’re using cutting-edge technology to transform the industry and deliver financial services that actually work for you.
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