School Fees Loan

School Fees Loan at OKE SACCO
This Loan helps you secure your children’s education without financial strain. After saving consistently in our School Fees Scheme for at least 6 months, you qualify to borrow up to twice your total contributions. This loan covers education expenses at all levels – from nursery school to university – with repayment spread over 12 months to match your income flow. Many members use this service to pay tuition on time, avoid school interruptions, and maintain academic progress for their children.
The loan carries our standard 15% annual interest rate and requires no additional collateral beyond your education savings. We disburse funds directly to your school account when possible, ensuring money is used as intended. Before applying, you must clear any previous education loans and maintain active contributions. Your regular savings history demonstrates repayment capacity, making this one of our most accessible loan products for dedicated members.
- Eligibility: 6+ months in School Fees Savings Scheme
- Loan Amount: 2x your total saved contributions
- Repayment Period: 12 months maximum
- Interest Rate: 15% per annum
- Collateral: Your education savings balance
- Special Condition: No lump-sum deposits accepted