Boda-boda loans

This product is designed to cater for Hima Community Sacco members who wish to start a boda-boda business to generate income as they remit monthly. It can be brand new or second motor cycle depending on member’s wish.
The features of this product are;
⦁ Maximum loan amount of up to Ugx 30million
⦁ Attracts interest rate of 2.5% per month on reducing
⦁ Maximum loan period of upto 36momths
⦁ All loans are insured
⦁ A member needs to be having 25% of the loan requested (10% in shares and 15%in savings)
⦁ All loans require a collateral security but the motorcycle to be procured becomes the collateral by submitting the motorcycle log/card.
⦁ All loans require guarantorship