FAQ
FAQ
Frequently Asked Questions
Want to understand our Sacco and how to access loans, you are in the right place. This section provides some of the questions our members ask.
To qualify for a loan, you must be an active WEZA SACCO member who has maintained membership for at least six months, made regular monthly savings contributions, and meets the specific eligibility requirements for the loan product you are applying for.
Members become eligible to apply for most loan products after maintaining active membership and consistent savings contributions for a minimum of six (6) months.
WEZA SACCO offers a range of loan products to meet different financial needs, including:
Refinancing Loan
Normal Loan
Education Loan
Emergency Loan
WEZA Salo Advance
Bamba Sita Loan
Okoa Jahazi Loan
Bridging Finance
Loan Eligibility Questions
Some of the questions include:
Yes. Most WEZA SACCO loan products require guarantors or other approved securities in accordance with the SACCO’s lending policy. The required guarantorship depends on the amount and type of loan.
The amount you qualify for depends on the specific loan product, your savings, your repayment ability, and the applicable lending guidelines. For example, members may qualify for up to three times their deposits under the Normal Loan product.
Loan eligibility is assessed based on several factors, including:
Compliance with the SACCO’s lending requirements
Your savings history
Length of membership
Repayment ability
Available guarantorship or security
Loan Repayment Questions
Some of the questions include:
Simply complete the prescribed loan application form, attach the required supporting documents, and submit your application to WEZA SACCO. Our team will guide you through the review, approval, and disbursement process.
Approval timelines vary depending on the loan product. Emergency Loans are processed quickly, while other products follow the SACCO’s scheduled approval process.
Yes. Members are allowed to make partial or full loan repayments before the scheduled repayment period without penalties, subject to the applicable interest accrued.