Thamini Loans Application Form 2021 | Eligibility, Repayment And More
Thamini Loans Application Form 2021… Are you looking for a way to apply for Thamini Loans Application Form 2021? If yes, then this informative article is for you. You will be given detailed information about Thamini Loans Application Form 2021 and How To Apply.
1. What Is Thamini Fund?
Thamini is a special loan product for widows disbursed through widow led groups and is a group-based loan facility that gives widows equal opportunity to access interest free group loans with no administration costs.
2. What Does Thamini Fund Do?
(A) Provide widows with specialised training, tailored support and interest free affordable capital to start/expand businesses.
(B) Increase access to capital through; innovative financing mechanisms, increase women entrepreneur’s use of holistic business development services and technological advancements with special focus on widow.
3. Who Is Eligible For The Thamini Fund?
The target group for the fund is economically active widows in Kenya aged 18 years and above who wants to start or expand her business within certified widow led groups. The loan amounts, graduation principle and repayment period for the loan is as follows;
| CYCLE | AMOUNT (KSH.) | |
| 1st Loan Cycle | 100, 000 | 15 Months |
| 2nd Loan Cycle | 200, 000 | 18 Months |
| 3rd Loan Cycle | 350, 000 | 24 Months |
| 4th Loan Cycle | 500, 000 | 24 Months |
| 5th Loan Cycle | 750, 000 | 24 Months |
| 6th Loan Cycle | 1,000,000 | 30 Months |
| Other Features | Zero Interest No Collateral RequiredWaiver of Administration and Training FeeSpecialised and Holistic Business Development TrainingAccess to USSD CODE *601# for Effective Loan Management. |
4. How Can I Access Thamini Fund?
- Must be a registered self help Group of 10 members and must have been in existence for at least three months and comprising 100% women out of whom at least 70% are widows.
- All leadership positions must be held by widows.
- Must have an account in a Bank/SACCO FOSA/Post Bank/Deposit Taking Microfinance (DTM).
- Groups must be trained on specialized and holistic business management skills by the WEF officers as a pre-requisite for the application.
- 1-month grace period applies to the Thamini Loan Cycles.
5. Are There Any Charges On The Services Being Offered?
- A training fee of KSH. 100 is charged for each member of the group.
- A loan tracker booklet chargeable at KSH. 200/= for every first loan.
6. How Do I Repay The Loan?
The loan repayment process is through;
1. KCB Account No. 1111394423, using WEF pre-printed deposit slips or
2. MPESA Paybill 830800
3. Through USSD Code, *601#
- To access the platform, dial *601# from anySafaricomenabled Sim Card
- Register for the service by keying in your National ID, (which was used in the loan application form) when prompted to.
- Once your National ID is verified, you will be assigned a one-time pin (change to your preferred pin number when prompted).
4. *601# WILL ALLOW YOU TO;
- Check loan balance
- Check loan statement
- Repay WEF loan (the loan account has already been linked to the fund paybill).
- Initiate a new loan application process.
- Check the fund offices contact information.
5. Does WEF Have Offices In Other Countries
Yes. County operations are coordinated by Assistant Credit Managers based in Sixteen (16) regions within the former provincial headquarters. The fund has engaged No.290 Credit Assistants who are Constituency based countrywide.
For more information about Thamini Loan and how to download the application form, Click Here
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