Updated 31 October 2026
Chuka University Sacco’s cheapest loan is the Normal Loan at 1% a month on a reducing balance (12% a year), for up to 3 times your savings over 36 months. Special Normal costs 1.125% a month (13.5% a year) for up to 4 times savings over 60 months. Development and Housing loans cost 1.2083% a month (14.5% a year), and the Development Loan is the longest at 96 months with up to 5 times your deposits. Almost every loan needs four guarantors and a witness, and at least one third of your basic salary must remain after all deductions. Terms come from the Sacco’s product pages, checked on October 31, 2026.
Chuka University Sacco loan chart
| Loan | Rate | Annual equivalent (Sacco) | Max period | Limit |
|---|---|---|---|---|
| Normal Loan | 1% a month, reducing | 12% | 36 months | 3x savings; no existing loan |
| Special Normal Loan | 1.125% a month, reducing | 13.5% | 60 months | 4x deposits; for development projects |
| Development Loan | 1.2083% a month, reducing | 14.5% | 96 months | 5x deposits; based on net pay |
| Housing Loan | 1.2083% a month, reducing | 14.5% | 72 months | 4x savings; cheque paid to vendor |
| Special Constant Loan | 1.083% a month, flat | 13% flat | 108 months | Above regular limits |
| Super Normal Loan 1 | 1.375% (page says p.a., likely monthly) | As listed | 120 months | Extended long-term limit |
| Super Normal Loan 2 | 1.417% a month, reducing | Not stated | 72 months | Not stated |
| FOSA Salary Loan | 1.25%, reducing | 15% | 72 months | Based on net pay; salary through FOSA for 1 month |
| Emergency Loan | 1.334% a month, reducing | 16% | 12 months | 3x savings, max KSh 300,000 |
| School Fees Loan | 1.334% a month, reducing | 16% | 12 months | 3x deposits, max KSh 500,000; paid to the school |
| Karibu Loan | 1.375% a month, reducing | 16.5% | 12 months | Available after first contribution; a quarter kept as savings (min KSh 5,000) |
| Divi-Loan | 12.5% p.a. | 12.5% | 36 months | 70% of last dividend x 3; repaid from dividends |
| Salary Advance | 5% a month, reducing | — | 10 months | Based on net pay |
| FOSA Salary Advance | 6%, reducing | — | 10 months | Based on net pay; 2 guarantors |
| Advance Dividend | 10% a month | — | 12 months | Based on last year’s dividend |
The Super Normal Loan 1 page lists “1.375% p.a.” as both the rate and its annual equivalent, which looks like a typo. Confirm the rate before you apply.
Common requirements
- Normal, Special Normal, Development, Housing and School Fees loans need at least six months of saving with the Sacco.
- Four guarantors and one witness are needed for most loans (two for the FOSA salary advance, one for a salary advance longer than a month).
- Bring two latest original payslips. Non-salaried members provide other security.
- Repayments start no later than the month after the loan is paid out.
Which loan to pick
Here is our own estimate using standard amortisation, not a Sacco quote. KSh 1 million costs about KSh 23,000 a month on Special Normal (1.125% over 60 months), with roughly KSh 381,000 in interest. On the Development Loan (1.2083% over 96 months) it is about KSh 17,700 a month, with roughly KSh 695,000 in interest. If you can carry the higher instalment, the shorter loan saves over KSh 300,000. The Normal Loan is cheaper still, but you can’t have any other loan running. Our reducing-balance calculator guide explains the maths.
The Special Constant Loan’s 13% flat rate over 9 years is far dearer than it looks, because flat interest is charged on the original amount for all 108 months.
Frequently asked questions
How many times my deposits can I borrow from Chuka University Sacco?
3 times on Normal, Emergency and School Fees loans, 4 times on Special Normal and Housing loans, and up to 5 times on the Development Loan.
Can a new member borrow immediately?
Yes. The Karibu Loan is available once your first share or savings instalment is paid, and a quarter of it is kept as savings.
Where can I compare Chuka University Sacco with other Saccos?
See our Sacco loan comparison.
Prefer WhatsApp? Follow Business Radar on WhatsApp
Weekly, free. We only use your email for this newsletter and you can unsubscribe in one click. Privacy policy.
