MHASIBU SACCO SOCIETY LTD

Transcription

1 MHASIBU SACCO SOCIETY LTD Mhasibu Sacco Ltd. View Park Towers 6th Floor, Utalii lane P.O. Box 31295, 00600, Tel: (020) , , , / Fax: ; Website: LOAN APPLICATION FORM PERSONAL CHECKLIST I have attached copies of the following documents: SALARIED MEMBER Membership No. BUSINESS MEMBER ID/Passport PIN certificate Referee ID ID/Passport PIN certificate Referee ID Utility bill (Electricity, Telephone, Water) not more than 3months old Utility bill (Electricity, Telphone, Water) not more than 3months old Guarantors IDs / Passports Payslips for the last 3 month (certified by employer) Guarantors IDs / Passports Certified Bank statements for the last 3 months(salary A/C) Declaration of Income & Expenditure Certified Bank statements for the last 6 months A. Please complete this form in block capitals and return to one of the Loans Officers. Incomplete forms will be returned unconsidered. 1. MY PERSONAL DETAILS Mr. Title (tick appropriate box) Mrs. Miss Dr. Surname Other Name(s) Previous Name(s) (e.g Maiden Name) Nationality Country of Residence, Nationality Date of Birth Telephone contacts Mobile No. Personal Address: Current Address.: Marital status Educational Level Married Single Divorced Widowed Other No. of dependants: Graduate High School Professional Certificate Post Graduate Diploma Prof 2. AMOUNT APPLIED (In words): (In figures): Kshs LOAN TYPE Normal Refinancing Repurchase Holiday Instant Mhasibu Investment Plot Buying School Fees Emergency Asset/Motor Vehicle Others Repayment Period... Repayment Amount... SECURITY OFFERED FOR THE LOAN 1. Deposits Log Book NSE Shares (50% value) Others 4. LOAN REPAYMENT TERM Loan repayment (Principal + Interest) Deposit (matched to loan amount) Total repayment 5. DISBURSEMENT MODE I am authorizing your office to transfer my loan amount to the following bank account: Account Name...Bank... Branch... Account No(s)... (No cash repayment is acceptable in the Sacco Offices). (1)

2 5. EMPLOYMENT DETAILS Payroll No... Name of current Employer... No. of years with Employer... Current salary PM... Monthly expenditure... Terms: Permanent Temporary Contract Self Employed(Others) Work physical address... Telephone ( office)... Position... Department... Employment terms... Employer ... Name of previous employer... No. of years with previous employer BUSINESS DETAILS(Business members only) Name of business... Type of business:... Registration No.:... PIN NO:... Number of years in operation... Telephone No... Physical address ABOUT MY RESIDENCE Current Residential address (please give full details Area:... Nearest Market:... Plot No:... Street Name:... Length of stay at present address... Current Police Station:... Years:... Previous residence address (if less than 3 years at current residence)... Permanent address if different from present address (foreign nationals, please provide address in home country) REFEREES (One referee must be a relative) Referee 1 Referee 2 (Must be a relative) Full Name Relationship No. of years acquainted Nationality Tel: (Home/Mobile) Tel: (Work) physical address (Work/Residence) Address (2)

3 REPAYMENT GUARANTEE We, the undersigned acting as guarantors for the loan requested on page 1 of the Application form, understand and agree jointly and severally that all loan interests and deposits with Mhasibu Sacco Society Ltd. owned by us are hereby pledged as security for the said loan or such part of it as may be granted. In case of default in repayment by the loanee the Treasurer is hereby authorized to deduct any balance interest and cost appertaining to the aforementioned loan from the securities hereby pledged. Our particulars are as follows: COMPLETE THIS PART IN BLOCK CAPITALS: GUARANTORS NAME SHOULD BE WRITTEN IN FULL MEMBER NUMBER FULL NAMES NO. OF LOANS GUARANTEED DEPOSITS PLEDGED AS LOAN GUARANTEED EXISTING LOAN BALANCE GUARANTORS SIGNATURE WITNESS SIGNATURE TOTAL GUARANTORS CONTACTS: 1) Name... Phone No. :... 2) Name... Phone No. :... 3) Name... Phone No. :... 4) Name... Phone No. :... N/B: Attach Guarantors copy of IDs WITNESSES CONTACTS: 1) Name... Phone No. :... 2) Name... Phone No. :... 3) Name... Phone No. :... 4) Name... Phone No. :... COMMUNICATION TO DEFAULTERS Incase of default the communication to the guarantor and the Applicant will be as follows 1. First month notification will be by to the loan Applicant. 2. Second month notification will be to both the Applicant and the guarantors through an , Registered mail 3. Third month default will be communicated through registered mail to member and guarantors (3)

4 TERMS & CONDITIONS I understand that the basic rules applicable to this application are as listed and understand the loan will be granted only according to these rules Members are limited to four times the sum of shares and deposit held, but subject to availability of funds. No member will be permitted to suffer total deduction (including Savings, Loan repayment and interest) in excess of two thirds of his/her basic salary/income. 3. A member will be required to maintain a monthly deposit contribution depending on loan repayment period and amount contribution subject to the current requirements based on loan applied for. 4. Outstanding loans must have been cleared before a new loan is granted OR as per the standing policy guiding respective loan products. 5. Members must have contributed for a minimum period of six consecutive months having a minimum share/deposit contribution of Kshs. 1000/= per month. 6. Emergency and school fees loans will be granted with a maximum repayment period of 12 months and must be supported by documentary evidence. School fees Loans shall be paid directly to schools. 7. The guarantors must be members of the society and should not have acted as guarantors for more than three other loans. 8. Lumpsum contribution for the purpose of securing a loan can be considered only if such money remains in the Society for at least six months, OR subject to 10% commission on lumpsum for members in good standing Lumpsum loan repayment for the purpose of borrowing a new loan must be retained in society for at least 3 months. In case of default in payment the entire balance of the loan will immediately become due and payable at the discretion of the Board and all deposits owned by the member and held by the member and any interest and deposits due to the member will be set against the owed amount. The member will also be liable for any costs incurred in the agencies so appointed for the loan balance and accumulated interest. Any remaining balance will be deducted from the member's salary and or terminal benefits and the employer is authorized to make all necessary deduction by authority of the member's signature appended below. 11. Applications must be received in the society's office on or before 10 th of every month or last working day if 10th falls on a weekend or public holiday. 12. CREDIT REFERENCE BUREAU Not withstanding the credit facility. I/We understand that Mhasibu Sacco Society Ltd shall obtain credit report from Credit Reference Bureau as may be required in certain circumstances at the discretion of the Board. 13. ASSET LOAN Search, valuations and registration fees will be paid by the Applicant. Financing Option 14. Motor Vehicle Type Sacco Contribution Payment Period New Motor Vehicle 90% 48 Months Used 75% 48Months LAND / PLOTS The use of plots purchased by Mhasibu Housing Co.Ltd will admissible as security on the following grounds: Availability of title deed of the plot/land. Payment of Valuation, Registration and other incidental costs The consideration of the Land/ plot will be 75% of the market value. MEMBER DECLARATION I hereby declare that the foregoing particulars are true to the best of my knowledge and belief and I agree to abide by the By laws of the society. the loan policy and any variations by the board in respect to above sections. I/we further confirm that, I / we understand that in case of default. the default information will be furnished to a CREDIT REFERENCE BUREAU, ICPAK, KASNEB, Other bodies without prior written consent Applicants: Name:... Signature... Date... Witnessed by: Name:... Signature... ID No.... Membership No... (4)

5 FOR OFFICIAL USE: Risk Exposure Computation Guarantors deposits Pledged x 4...Kshs... Add Applicants Deposit... Kshs... Less Guarantors Loan...Kshs... Less Loan Applied... Kshs... TOTAL... ( Results must be more than Zero). (1) LOAN PROCESSING MANAGER I certify that the application is/is not within the Rules of the Society. If not, state why... Official signature... Date... (2) CREDIT COMMITTEE RECOMMENDATIONS Loan approved Kshs... Recoverable in... Installments, at an interest rate of one per cent per month on a reducing balance. Credit committee minute No... Date... Chairman s Signature... Member s Signature... Member s Signature... (3) COMMENTS BY THE OFFICIALS (5)

6 ANNEXTURE 1 IRREVOCABLE INSTRUCTIONS Form 2b Mhasibu Sacco Ltd. View Park Towers 6th Floor, Utalii lane P.O. Box 31295, 00600, Tel: (020) , , , / Fax: ; info@mhasibusacco.com, Website: To The... (Employer) MEMBER S SECTION IRREVOCABLE INSTRUCTION FOR LOANS REPAYMENT (To be filled in duplicate to leave blank the space for amount payable as the same will be determined by the Board I... Employer s No... hereby authorize and request you to deduct from my salary each pay day the sum of shillings (in words) (Kshs... Cts...) LOAN REPAYMENT TERM Loan repayment (Principal + Interest) Deposit (matched to loan amount) Total repayment With effect from to to be paid to Mhasibu Sacco Limited and that in the event of my leaving the institution, my terminal dues equivalent to outstanding loan balance be withheld until a letter of clearance is received from Mhasibu Sacco Limited. These instructions shall be terminated or amended only with knowledge and written approval of the Board of Mhasibu Sacco limited. Signature Membership Number Date EMPLOYER S SECTION ( Acknowledgment of irrevocable Instructions) Signature... Date Designation... OFFICIAL RUBBER STAMP OTHER MODES OF PAYMENT I... hereby undertake to pay Mhasibu Sacco ltd the sum of shillings (in words)... Ksh...cts; with effect from to These instructions shall be terminated only with the knowledge and written approval of the Board of Mhasibu Sacco Ltd. LOAN REPAYMENT TERM Loan repayment (Principal + Interest) Check off Deposit (matched to loan amount) Direct debit Total repayment Standing Order NOTE: All loan applicants will be expected to sign a direct debit Authority as the only means of loan repayment if they are not on a check off system Signature Membership Number Date SOCIETY S SECTION Received By:...Signature:... Date... Official Rubber Stamp... (6)

7 Mhasibu Sacco Ltd. View Park Towers 6th Floor, Utalii lane P.O. Box 31295, 00600, Tel: (020) , , , / Fax: ; Website: DIRECT DEBIT AUTHORITY FORM Members Details Beneficiary Details: To: Bank: Name: MHASIBU SACCO SOCIETY LTD Bank Name: Co-operative Bank of Kenya Ltd Branch: Co-operative Bank House, Nairobi Bank Code: Branch Code: Branch: Account to be Credited: A/c No Originators Code: Sacco Membership No: Member s Name: ID No Address: Tel No I/ We hereby request, instruct and authorize you to draw against my/ our account with the above mentioned bank or any other bank or branch to which I/ We may transfer my/ our account the sum of Kshs (amounts in words) the amounts necessary for payment of the monthly installment/ premium due in respect of the above mentioned agreement/ Sacco on the day of each and every month commencing on and continuing (as the case may be). All such withdrawals from my/ our account by you shall be treated as though they have been signed by me/ us personally. The amounts are variable and may be debited on various dates. I/ We understand that you may change the amount and dates only after giving me/ us prior notice. I/ We understand that the withdrawals hereby authorized will be processed by Direct Debit transfers and I/ We also understand that details of each withdrawal will be printed on my bank statement or an accompanying voucher. I/ We agree to pay any bank charges relating to this authority. This authority may be cancelled by me/ us giving you 30 (thirty) days notice in writing, sent by prepaid registered post or delivered to the offices of the above mentioned company/ association but I/ We understand that I/ We shall not be entitled to any amounts which you have already withdrawn while this authority was in force if such amounts were legally owing to you. Receipt of this Authority by you shall be regarded as receipt thereof by my/ our bank (whichever it is or will be). I/ We understand that if any Direct Debit Transfer is paid which breaks the terms of this authority, you will make a refund upon application. Signed at on this day of 20 Witnessed By... (MHASIBU SACCO STAFF) (Signature as used for signing cheques) Sign... For Bank Use Only: Confirm Bank Details & Signature: Date Stamp: Approved By: