This is a Type 1 loan
This is the first loan when the member does not have any
other loan. It’s granted on a clean payslip with no other loans.
The interest rate shall be 1% per month on a reducing balance
The repayment period is 5 years (60 months)
One must have a minimum share capital of kes. 30,000
A member qualifies for only one development loan at any
given time
This loan can only be refinanced to a Normal, Mavuno, Premium, or Super Saver loan
A member can qualify for any other Type 2 loans while still
servicing this loan
