LOAN ACCOUNT

At Y-Save we understand that you have dreams and ambitions about improving the quality of your life. For example like to buy new furniture or buy a plot of land.

    At Y-Save we understand that you have dreams and ambitions about improving the quality of your life. We know that you would for example like to buy new furniture or buy a plot of land, fund opportunities or emergencies.

    You may also be planning to study for your Masters or parallel degree or any other grand dream you may have. All these dreams need financing to become a reality.

    That’s why Y-Save offers you a Loan account to enable you to fulfil your dreams and live your life to the full.

    Categories of Loan Account

    Agriculture loan

    This Loan product is offered to Y-Save members who need to boost their farms or to fund agriculture projects. It’s designed to finance business activities in agricultural production, processing, marketing and acquire new machinery.

    Business Loan

    This Loan product is offered to Y-Save members who need to boost their businesses. It’s aimed at financing business growth and facilitates business performance for both small and medium businesses. The member must present business documentation to support a loan application.

    Contract financing Loan

    This Loan product is offered to Y-Save members who need to fund business contracts.  It enables the member to receive a cash advance on work they are yet to perform. The member must present a contract when applying for this loan and must pay up within a period of six (6) Months.

    Personal Loan

    This Loan product is offered to Y-Save members who need to fund business contracts.  It enables the member to receive a cash advance on work they are yet to perform. The member must present a contract when applying for this loan and must pay up within a period of six (6) Months.

    Property Loan

    This Loan product is offered to Y-Save members to acquire property. It’s designed to enable the members to buy land, own a home, do the construction or buy machinery. The product aims at improving the member’s welfare.

    Features

    • We offer loans to only account holders
    • Our loans have a reasonable interest rate of 18% Per Annum or simply 1.5% per month, calculated on a reducing balance basis
    • The amount disbursed to a member is 80% of the security they have
    • Security for the loans is tagged to the member’s savings, shares or guarantor-ship by other member’s savings or shares
    • Member’s assets for example Land titles can also be used as security for the loans