About Loans

"Our loans attract interest @6.5% per year!"

Loan Features

  • New members qualify for six (6) months after opening an account and consistent saving every month if possible.
  • You can borrow self-guaranteed loans (Loan amount within your shares up to 96%).
  • You can borrow guaranteed loans up to 3 times your savings.
  • Approach fellow members to guarantee you the amount required.
  • Borrow for all legal purposes (Home development, School fees, Business, Property purchase, emergency, Bills etc.
  • Every loan shilling is guaranteed by your shares and in the case of guaranteed loans; your shares and that of your guarantors.
  • Underpayment leads to loan arrears.
  • Boosting of shares to get a huge guaranteed loan is discouraged. (That is, depositing more than 33% of your current savings at once in
  • order to borrow a guaranteed loan).
  • In case you boost shares, you will have to wait for 3 months before applying for a guaranteed loan.
  • Members can qualify for top-up loans.
  • The self-help group can also guarantee members. Up to 25% of the already sourced guarantees incase the sourced guarantees are not enough. (
  • First time loan applicants, are not eligible).
  • If a loan applicant defaults on a loan (4 months of nonpayment) the loan will be offset against your shares and also from your guarantors shares if the loan is guaranteed by other members.

    Procedures of Loan application

    • Download and fill the Loan Application Form
    • Request for your share statement to know the status of your shares.
    • Embed a pass port size photo at the top-center of the loan form and scan it. Send to info@stpaulshg.org and accompany the attachment with a scanned copy of ID.
    • In case you have guarantors, they can email us their consent, stating how much they are guaranteeing you, quoting your name and membership number.
    • If you choose not to scan, bring the filled loan application form to the office, together with a copy of your ID and one pass port size photo. In case there are guarantors they can either email us their consent or sign the loan application form under guarantors’ section.
    • The loan will be processed in less than seven days, and we shall bank the cheque for you in your preferred bank account.
    • The Cheque amount will be less loan insurance fee of (1% of the loan) and ksh. 100 as the loan application fee.