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DIVIDEND ADVANCE
- This is a product available for members of the Sacco who have earned dividends in the previous year
- Dividend advance is accessible only to members who are in good standing, for avoidance of doubt a member should not have loan/contribution/deposits arrears or should not be in default of any loan products.
- Minimum amount payable shall be Kshs. 1000
- Interest charge is 5% on the qualified dividend amount.
- Members qualifying for the dividend advance to fill a dividend advance loan form for approval and processing.
- The dividend advance is only accessible once every year.
- The dividend advance shall be recovered from interest on deposits and dividend on shares earnings for the current year upon approval after the active year’s AGM.
