CONFIDENTIAL

KARI SACCO KARI CO-OPERATIVE SAVINGS AND CREDIT SOCIETY LTD

Planned PosterityPO Box 57811-00200, NAIROBI

QUICK CASH APPLICATION FORM

Loan No…………...

A.PERSONAL INFORMATION
  1. Applicant’s Name: …………………………………..…………………………...P/No:.………
  2. Present Net Income per month KES……………………………..
  3. Age according to ID. Card……………………………………….

(Attach a copy of both sides of your ID card and a current original pay slip)

B.ADVANCE APPLICATION & REPAYMENT

I……………………………………………………hereby apply for an advance of KES ……………

(Amount in words….………………………….………………………………………) to be recovered in ………installments of KES……..……………per month with effect from………………………….

I hereby declare that the foregoing particulars are true to the best of my knowledge and belief and agree to abide by the by-laws of the society and the advance policy

Signature………………………………………………………………..Date …………………………

C.REPAYMENT GUARANTEE

We, the undersigned, hereby accept jointly and severally, liability for the repayment of the outstanding advance in the event of the borrower defaulting. The amount in default may be recovered from our salaries.

Guarantors
1.Name: …………………………………………...... P/No…………...: .Signature:……………….
2.Name………………………………………………. P/No:…………….Signature:………………
3.Name:………………………………………………P/No:…………….Signature:………………
4.Name:………………………………………………P/No:…………….Signature:………………
5.Name:………………………………………………P/No:…………….Signature:………………
D.OFFICIAL USE ONLY

Present Net Salary………………………Frequency of advances during the year…………………………

Amount currently requested…………………New total advance will be KES…..…………….……….

This application is accepted/rejected for the amount of KES…………….…Repayable in…... months

If not, indicate reason for rejection as provided in Section F……………………………………….…...

Verified by:………….…………………… Title: …………………… Sign: …………………………..

Approved by: ..………….…………………..Date……………………………………………..

E.I hereby declare that the foregoing particulars are true to the best of my knowledge and belief and agree to abide by the by-laws of the Society, the advance policy and any variations by the Credit Committee in respect of Section B above. I hereby authorise the necessary deductions, including Eight/Five- percent interest monthly to be made from my salary as repayment for this advance.

SIGNATURE______DATE______

WITNESS SIGNATURE______

NAME______PAYROLL NO______

ADDRESS______

F.Indicate the reasons for deferral/rejection by ticking the appropriate number:

Reasons for Rejected Advance

  1. Inability to pay or bad repayment history
  2. Advance not in proportion to net salary (1/3 rule)
  3. Clear outstanding advance
  4. Excessive advance frequency
  5. Lack of proper guarantors or security

G.RECEIPT OF ADVANCE

Received the sum of KES ______Date:______

Name:______Signature______

ID card No:______

PAID VIDE CHEQUE NO------Dated ------(For Official Use only)

Borrowing Conditions
a)Available for Members and Non Members
b)Quick Cash loans to members at 3% for members for 12 months
c)For non-members borrowing for 9 months-4% rate and 12 months-5% rate will apply on reducing balance
d)Original current pay slip and a copy if National Identity Card
e)Maximum amount granted KES 100,000
NB: If the agreed amount for loan repayment reduces and in turn extends the period for repayment for whatever reason. The difference in KES will be recovered from your guarantors immediately.

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