1. Q: What are the requirements for joining NCRSACCO?
A: A duly filled application form.
Registration fee of Ksh. 1,200/=, two passport size photograph and a copy of ID card.
2. Q: How many guarantors are required to sign for a loan?
A: At least 3 who have sufficient savings to cover the loan.
3. Q: How long does it take for a loan to be ready?
A: It depends on the type of loan, i.e. for normal loan-immediately it has been approved by the credit committee, Emergency loan- Within a week and Quick cash is on the spot etc.
4. Q: The amount of loan to apply
A: The maximum amount of loan is 3 times a members’ savings.
5. Q: What is the amount that a member is supposed to contribute?
A: Minimum contribution is ksh.2,000/= per month (mandatory) While maximum contribution depends on the member’s financial ability.
6. Q: How long does one take to apply for a loan?
A: One needs to be a member for at least six months and must be up to date with his/her monthly contributions
7. Q: How many times does a member have to pay insurance?
A: Insurance is paid once in a year and is Kshs.1,000/= (one thousand only)