Development Loan

Access loan facilities of up to three times the amount of your shares with a favourable interest rate of 1.5% per month on reducing balance. The loan is also insured against death and has a repayment period of up to 60 months.

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For one to apply for any loan product, the following shall be mandatory requirements:-

About this product

Development Loan: 

This is a long term loan product that is aimed at assisting our members access credit for use in their long term development plans. Such credit can be used to acquire assets and venture into mega projects that can assure additional sources of income to our members. 

Features

  • A member shall have been active for at least 6months
  • Loan Amount: Maximum of 3 times the withdrawable deposits. 
  • Security: at least 2 guarantors and/or collateral
  • Shares of the loanee and the guarantors shall be equal or more than the loan applied
  • Duration: Maximum of 60 months
  • Purpose: long term capital development e.g. construction, purchase of equipment, payment of overseas college fees (a calling letter and a valid visa shall be produced).
  • Interest rate: 13.5% per annum on reducing balance.
  • Appraisal and insurance fee: 1 %
  • Deposits Security: Loanee’s deposits and those of the guarantors shall be equal or more than the loan applied.

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Services to serve you better

These services are open to all our members

Online Customer Portal

Access your account from any device anywhere in the world. Simply log into your customer portal and keep track of your finances whenever and wherever you are.

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Mobile App

Download our mobile app from the playstore and easily bank directly from your phone. Access your statements, apply for loans and so much more

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ATM Services

Access the funds in your savings account from our the over 2000 Co-op ATMs country-wide. Experience convenience by accessing your money, wherever and whenever.

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Mobile App

Access mobile banking in these simple steps. Use it to withdraw your money, transfer to other accounts and so much more.

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Mpesa

Deposit directly into your shares or savings account using our paybill 914050

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Open a Nacico account today and start saving for your future.

Opening an account is quick and fast and only takes a few
minutes. You only need your National ID to get started.
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