Home Improvement Loan

Home Improvement Loan

Terms and Conditions:

  • Deductions shall be effected within thirty (30) days of the loan being granted and for a maximum period of twelve (12) months 
  • The maximum loan amount is K50,000.00 
  • The total loan to be paid is the loan amount plus interest of 2.00% per month 
  • Loan Repayment Period cannot exceed the end of contract date. 
  • This loan will attract 1% insurance cover to cater for death of loan applicant and will be calculated from total loan. 
  • Unpaid loan balances shall be deducted from the member’s savings with full interest 
  • This loan cannot be granted if net pay cannot absorb deductions. 
  • A member should show consistency in contributions and previous loan repayments 
  • CareCoop reserves the right to approve or reject any loan application.

Eligibility Criteria for Loan

  • A member is eligible for this loan after saving with CareCoop for one (1) month. This will be within a member’s savings for the first three (3) months 
  • New Members on DDACC can only borrow within their savings for the first three (3) months. 
  • A member must have a minimum of 20% in savings calculated on the total loan amount applied for and accessed. 
  • This loan cannot be granted if net pay is less than 20% of applicants’ net pay after Tax & NAPSA but not less than K500.00 after deductions. 
  • A member who has been inconsistent with monthly repayments will have to clear all outstanding balances and be consistent for at least 3 months before being able to access a new loan


The following documents are required along with your Loan application:

  • Copy of NRC or Valid ID
  • Latest Copy of Pay slip
  • Copy of Valid Contract of Employment
  • Organization Clearance Form
  • Copy of Mandate Form (for General Members)
  • Bank Statement (for General Members in Active Business)
  • ZRA Tax Certificate (for General Members in Active Business)
  • Cash flow projections (for General Members in Active Business)

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