Stima Sacco extends loan repayment period

Stima Sacco repayment extension

Stima DT Sacco has reviewed the repayment periods of its loan products, allowing borrowers more time to adjust to the country’s economic situation without defaulting.

“We are delighted to announce that Stima DT Sacco has reviewed its credit products. These changes will see an extension on the repayment terms of our credit facilities. We urge our members to take advantage of this offer,” read a notice from the CEO Gamaliel Hassan.

The Sacco has extended the repayment terms of nine products; Mwangaza, Flex, Emergency, Super, Premium, Yasar Murahaba, IPF Working Capital and Yasar Tawarag.

The repayment period for Mwangaza loans has been extended from 72 to 78 months; emergency loans from 12 to 15 months; Flex from 36 to 48 months; Super from 85 to 96 months; Premium from 85 to 96 months; and Yasar Tawarag from 108 to 120 months.

The changes, which were announced through a notice from the CEO to all members on November 14, take effect immediately, and also apply to existing loans.

“Members with existing loans who wish to reschedule are advised to engage with their nearest branch for guidance on how to apply,” the notice continued.

Stima Sacco believes that extending the repayment periods will reduce financial strain and give borrowers breathing room to meet other financial obligations and unexpected expenses.

By Amos Kerich

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