The TOP UP LOAN is an exclusive offering available to members who have demonstrated responsible borrowing behavior by repaying at least 75% of their existing development loan. Here’s a detailed overview of its key features:-

1. Eligibility Criteria: To qualify for the TOP UP LOAN, members must have repaid a minimum of 75% of their current development loan. This requirement ensures that borrowers have established a track record of timely repayments and responsible financial management, making them eligible for additional borrowing privileges.
2. Repayment Period: With a maximum repayment period of up to 72 months, the TOP UP LOAN provides members with ample time to repay the loan at a pace that suits their financial circumstances. This extended repayment period offers flexibility and affordability, allowing borrowers to manage their repayments comfortably over time.
3. Competitive Interest Rates: The TOP UP LOAN features competitive interest rates of 1% per month on the reducing balance. This ensures that borrowers benefit from affordable financing options while maximizing the value of their investments.
4. Security Requirements: Similar to the development loan, the TOP UP LOAN must be fully secured by either guarantors and/or collateral. This requirement serves to protect the interests of both the SACCO and its members, ensuring that loan funds are safeguarded against default.