@mwenza,
No need to tease Extra-Blessed over a small typo.Everyone does it once in a while and it ain't a crime and hey...... am no genius...!!.......Second,she gave you facts as they are.Besides,your loans and shares in Saccos are secured.Your savings do not attract commissions and service/maintenance fee.The minimum deal you get from your savings in case of demise is;
1.All loans written off unconditionally.
2.Your shares doubled and shared out to your beneficiaries.
In case of loss of job or business,your loan can be re-scheduled at/for your convinience....and in certain cases,a grace period of 6 months is granted.All this at no extra cost.
Current average loan interest rates is 12%,devidend payout of as high as 11% on you savings and the only money the government gets is 5% withholding tax on devinded.Loan processing fee is pitiable and insurance stands at about 1800 bob per year for all your money......this fee is payable once or on 12 instalments....huh..!....To add a little,
i do not know of a bank where i can walk in,ask for 100K unsecured short term loan,have it processed inside 30 minutes and i hit the street.Beauty is,i repay 50K plus interest at the end of the first month and if i clear the balance inside 30 days,the remaing 50K attracts no interest and .....yeees......!!.....I move to the next counter and i can ask for a further 100K.All this in the same hour.
......Now,try that with any bank ..........Did i hear you scream murder?.
@Nanfor,
For your write-up,the following rural saccos should interest you;
1.Kilifi Teachers.
2.Maua Sacco.
3.Kiambu Farmers.
4.Nyeri Teachers.
5.South Imenti Growers.
There must be many more out there especially in the big towns and i believe you will be dazzled by the number of available cheap products.
Yombo dhier....!!
Nothing great was ever achieved without enthusiasm.