Emergency Loan – We've Got You Covered When Life Happens!
Life is full of surprises — and not all of them are pleasant. Whether it’s a medical emergency, a family bereavement, court-related costs, or other unexpected personal challenges, having quick access to funds can make all the difference. That’s where the Emergency Loan from Baptist Convention SACCO comes in
This loan is specifically tailored for urgent, short-term financial needs. From handling hospital bills to making that unplanned but important travel for a funeral or even funding a spontaneous holiday, our Emergency Loan is your go-to solution.
Loan Features and Requirements
Membership Duration
You must be a registered SACCO member with at least 3 months of consistent contributions to your Main Savings Account. Members who have defaulted on previous loans do not qualify.
Loan Limit
You can borrow up to 90% of your available deposits in your Main Savings Account.
Interest Rate
The loan attracts a competitive interest rate of 11% per annum on a reducing balance — meaning you pay less interest over time.
Repayment Period
Flexible repayment period of up to 12 months (1 year).
Collateral
Your own savings serve as the collateral, covering up to 90% of the loaned amount. No need for complex security arrangements.
Proof of Ability to Repay
You must demonstrate that you have a reliable source of income or business earnings to repay the loan.
Documents Needed
If You’re Employed:
3 recent pay slips
3 months’ bank statements
A copy of your Kenyan ID or valid passport
If Self-Employed or on Contract:
3 months’ bank statements
Copy of your Kenyan ID or valid passport
Business registration certificate
Tax return documents (latest year)
1099 Forms or similar documentation
Accepted Loan Securities
Your own Main Savings Account deposits
Guarantor’s savings (for additional security if required)
How to Apply for an Emergency Loan
Login to your SACCO member portal.
Fill out the Emergency Loan Application form in full.
Attach all relevant documents based on your employment status.
Pay a non-refundable processing fee of 1% of the loan amount (minimum of KES 100).
Once approved, your loan will be disbursed quickly via M-PESA or bank transfer, ensuring that help is available exactly when you need it.
Don’t Wait for a Crisis to Derail Your Plans
Join Baptist Convention SACCO today and enjoy peace of mind knowing that when the unexpected happens, we’re here for you.
Better Together. Stronger Always.
