How much will I access in net after accessing dividend discounting advance?
5% of discounted dividends will be capitalized and therefore you will access the full amount less capitalized amount. and Internet Banking platforms.
Why can’t I access a dividend discounting advance?
The following will not have access to dividend discounting:
Can I repay my dividends discounting in advance?
Yes. You can repay dividends discounting advance via available channels i.e., M-Pawa, M Stima, Internet Banking or visiting your nearest branch.
How is the dividends advance facility repaid?
Dividends advance loan is fully repaid after the final payment of dividends is done. This will be in 2025
What is the duration for dividend discounting advance?
Discounting to run up to next AGM (tentatively to the end of January 2025)
What’s the interest rate for dividend discounting advance?
The advance will attract an interest rate of 4% per month.
How can I access dividend discounting advance?
You can access your dividend discounting advance by visiting your nearest Branch or through the M-Pawa M-Stima and Internet Banking
How much is available for discounting?
You can access up to 50% of the payable dividends andinterest rebates.
What is dividend discounting?
This is getting an advance against dividends to be fully paid after dividends payout. It is usually based on the previous year’s payout and fully secured with the expected dividends.
What are dividends and interest rebates?
Dividends are returns payable to ownership shares commonly referred to as the Share Capital you have with the Sacco while Interest Rebates are returns on Alpha Deposits i.e., the deposits used as a multiplier when applying for a loan.
