Premier loan shall be granted on the following conditions:
The rate of interest shall be Ten percent (10%) if the loan is paid in a maximum of six months and Twelve percent (12%) if the loan is paid in a maximum of twelve months. The interest shall be paid up front.
The maximum amount that can be granted shall be between 30,000.00 and Kshs. 100,000.00
Minimum savings to qualify for loan shall be saved for at least six months.
In case of default to pay, a penalty of five percent (2.5%) per month of the amount defaulted shall apply.
