The Kibu SACCO App provides Kibabi University (Kibu) Sacco members access to Sacco services including submitting Savings contributions, Viewing Saving Statement, Making Loan Application, Tracking loan approval Status, Viewing Loan Statement.
For loan access, this app allows members to make Loan Application which are then appraised and approved by the SACCO staff.
Different Loan Products are availed for with different requirements. A Sample Loan Schedule is provided below for the Main Loan Product on offer.

Loan Period - 5 Months
Annual Interest Rate (Charged on Reducing Balance) - 14%
Processing Fee - KES 200 Deducted Upfront
Applicable Maximum Annual Percentage Rate (APR) - 14%
Loan Principal - KES 20,000
Disbursable Amount - KES 19,800.00
Total Repayable Amount - KES 20,700
Total Cost of Borrowing on the borrowers for such a Loan is KES 900 (KES 200 Processing Fee + KES 700 Interest)

Repayment Plan

Month Installment Amount Interest Loan Balance
1 4,233.33 233.33 20,700
2 4,186.67 186.67 16,466.67
3 4,140 140 12,280
4 4,093.33 93.33 8,140
5 4,046.67 46.67 4,046.67