Development loans
Provision of loans to its members is the main business of KKMF and it is what is demanded most by its members. Since its inception kkmf operations, a market research was done.
- Should be a member with KKMF.
- Should have operated an ordinary savings account for at least 3 months.
- Collateral Securities, 2 guarantors Bank and home guarantors (where applicable), spouse consent (if applicable).
- Should be in areas of our operation.
- Interest rate is 3% per month calculated on reducing balance method.
- Loan period of 1 months to 24 months.
- Interest rate is 3% per month calculated on reducing balance method.
- Minimum amount of 100,000 and maximum of 50,000,000 for individuals.
The minimum loan amount is 500.000/= and maximum is 50.000.000/= the loan period for this product is 12 to 24 months. Interest rate is 3% per month on reducing balance basis. It is attached to shares at a ratio of 1:10/=.