School Fees Loan:
Mwalimu National offers members the school fees loan product to enable them to cater for their educational needs as well as their children’s school fees without straining.
Product features:
- Repayable in 24 months
- Only one school fees loan can be granted at a time
- School fees loan is given within a member’s entitlement
- Maximum limit is a members’ deposits x 5 (subject to 1/3 salary rule and ability to repay within twenty-four months)
- Principle loan repayment is done separately from interest repayment