Request your own checklist
Documents depend on the loan and the SACCO assessment. Request the approved list for your case; another bank’s checklist is not ISOKO policy.
← Money knowledgeA better decision.
UNDERSTAND BORROWING
A better decision.
Starts with a question.
Know your purpose, repayment plan and what the agreement means. Taking time to understand is a useful first step.
Start here01 / PREPARE
Start with your own capacity.
Separate the amount you want from what you can repay. Review household needs and existing commitments. Consider lower income or higher costs.
Review your monthly budget02 / READ THE DETAILS
Look at the total.
Beyond the interest rate.
| What to review | A question to ask |
|---|---|
| Money you receive | How much reaches you after any deductions? |
| Interest | What is the rate, how is it calculated, and for what period? |
| Other costs | Are there administration, insurance, valuation or other costs? |
| Full schedule | What is due on each date, and what is the total repayment? |
| Collateral and guarantors | What obligations and risks apply to assets or someone guaranteeing repayment? |
| Changes to the plan | What happens if you repay early, pay late or expect difficulty? |
03 / TAKE YOUR TIME
Leave the conversation with clarity.
Keep a copy
Request a copy of the agreement and repayment schedule in a form you understand. Do not sign blank or unclear documents.
Raise difficulty early
If you anticipate difficulty, contact the SACCO before the due date. Any change needs agreement; this guide does not grant a payment holiday.
YOUR NEXT STEP