Your monthly repayment, the interest you'll pay, and how much you can borrow against your deposits and salary.
On a reducing balance, each month's interest is charged only on what you still owe, so it falls as you repay. On a flat rate, interest is charged on the whole loan for the whole period. The same rate costs much more on a flat basis: KSh 100,000 at 12% a year over 12 months costs about KSh 6,619 in interest on a reducing balance, and KSh 12,000 flat.
SACCOs lend a multiple of your deposits: Cosmopolitan, for example, lends up to five times deposits on most of its loans. Saving more each month raises your limit. Track your savings in My dividends and the calculator fills in your deposits for you.
SaccoLink