Who this loan is for?
This loan is ideal for SACCO members who need financial support to pay school fees for their children, or for themselves if they are pursuing education. It is suitable for those enrolled in primary, secondary, college, or university institutions, whether locally or internationally.
- School Fees Loan
Loan Details
Required Documents
- Valid National ID (borrower)
- Report card or admission letter
- Official school fees structure
- Completed loan application form
- 2 guarantors with valid IDs
- Passport photo of applicant and next of kin
Additional Charges
- 0.7% Insurance fee
- 2% Loan commission
- 1% Loan monitoring/appraisal
- UGX 15,000 stationery charge
- UGX 15,000 stamp duty (for loans above UGX 3 million)
Why Choose This Loan
- Quick processing for urgent school payments
- Supports multiple education levels
- Flexible repayment and repeat eligibility
- Loan Features
Loan Amount
Members can access a minimum of UGX 300,000 and up to UGX 4,000,000, depending on the school fees requirement.
Repayment Period
The loan must be repaid within a maximum of 6 months, making it ideal for short-term academic needs.
Interest Rate
An interest rate of 33.6% per annum is charged on a declining balance basis.
Application Flexibility
Members may apply for a new School Fees Loan even if they have an existing one, as long as they meet the eligibility criteria.
Ready to Apply?
Visit your nearest branch or call 0782378716 to speak to a loan officer.
You can also email us at rwanyamahembesacco@yahoo.com.
