As Kenyans continue to struggle with tough economic times, coupled with the high cost of living, as well as that of doing business, Kenya’s largest Sacco, Stima Sacco, has come up to help them breathe by reviewing loan tenors, a great relief for members to enjoy more while paying little amounts monthly.
“In line with the changing business environment, Stima TD Sacco has reviewed its products with effect from November 14, 2023. We believe this will go a long way in upholding our core value of listening and caring,” said Stima Sacco in a statement.
“The extension of our loan tenors will see a reduction in the amount payable every month to repay loans by our members.”
The Mwangaza loan product’s tenor has been increased from 72 months to 78 months. Members always access up to 5 million shillings under this product. The Emergency loan’s tenor has been increased from 12 months to 16 months.
At the same time, Stima Sacco’s Super loan’s tenor has been increased from 85 months to 96 months while that of Flex has been increased from 36 months to 48 months.
Another loan product whose tenor has changed is Yasar Tawaruq whose tenor has been increased from 108 months to 120 months. The Yasar Murahaba loan product’s tenor has been increased from 60 months to 72 months with that of the IPF has been increased from 10 months to 12 months.
The Working Capital loan that was at 60/36 months has now been increased to 72 months while that of Premium has been increased to 96 months from 85 months.
“Members with existing loans who wish to reschedule are advised to engage with their nearest branch for guidance on how to apply. We urge all our members to take advantage of this offer,” said Stima Sacco.