Personal loans serve as a versatile financial tool, tailored to meet the diverse needs and aspirations of Oasis Capital's members. Whether it's addressing immediate financial challenges, seizing opportunities for personal advancement, or investing in long-term goals, these loans offer accessible and reliable support.
Personal Loan Features:
1. Loan Amount Range: Oasis Capital recognizes that financial needs vary widely among its members. With a minimum loan amount of Ksh 500 and a maximum of Kshs 200,000, the institution ensures that individuals can access the appropriate level of financing for their specific requirements.
2. Repayment Period: The institution understands the importance of providing manageable repayment terms. Therefore, personal loans are structured with a repayment period of up to one month, allowing borrowers to plan their finances effectively and avoid unnecessary stress.
3. Interest Rate: Maintaining affordability is a key priority for Oasis Capital. By offering a competitive interest rate of 16% per month, the institution aims to minimize the financial burden on borrowers while still sustaining its operations and services.
4. Instant Disbursement: In times of urgency, swift access to funds is crucial. Oasis Capital ensures expedited processing and disbursement of personal loans upon approval, enabling members to address pressing needs without delay.
5. Collateral Option: Recognizing that some members may possess valuable assets, such as property with clear titles, Oasis Capital provides the option for collateralized loans. Borrowers can leverage their assets to access higher loan amounts, up to 70% of the appraised value, thereby unlocking greater financial potential.
6. Collateral Charges: While collateralized loans offer distinct advantages, Oasis Capital transparently outlines the associated costs and procedures. Borrowers are informed about the comprehensive process of charging the title deed, including valuation, legal formalities, and registration, as well as the corresponding expenses they must bear.
Requirements:
To ensure responsible lending practices and uphold the integrity of its services, Oasis Capital imposes specific eligibility criteria for personal loans:
1. Membership: Applicants must be registered members of Oasis Capital, aligning with the institution's commitment to serving its community of members and fostering mutual trust.
2. Age and Identification: Proof of identity and age verification are fundamental requirements. Borrowers must be at least 18 years old and provide a valid national ID or Passport to establish their identity and eligibility.
3. Financial Capability: Oasis Capital prioritizes the financial well-being of its members and, therefore, assesses each applicant's ability to repay the loan. By evaluating income sources, financial stability, and repayment capacity, the institution safeguards against over-indebtedness and promotes sustainable lending practices.
4. Insurance Coverage: As a further safeguard for borrowers and their families, all personal loans are backed by insurance coverage against unforeseen circumstances, such as death or permanent disability. This proactive measure offers reassurance and financial protection in times of adversity.
Through its comprehensive suite of personal loan offerings, Oasis Capital endeavors to empower its members, promote economic resilience, and foster a culture of financial inclusion and prosperity within the community.
