Guarantor loan Policy

By appending your signature on the loan application, you confirm that you have read and understood the terms and conditions, and your consent to guarantee  loan application. the undersigned, acting as guarantors for the loan requested on Loan agreement understand and agree, jointly and severally that all Deposits, shares, interest held with The Kenya Bankers Owned by us are hereby pledged as security for the said loan including accrued interest under or such part of it as may be granted for the loan amount
In the case of default in repayment by the loanee, the Society is hereby authorized to deduct any balance, interest and attendant costs incurred in recovery pertaining to the aforementioned loan, from the securities hereby pledged.  Further you understand that you shall not be eligible for loans at the time the Repayment of the loan guaranteed is in default. You shall be held responsible jointly and severally till the loan is fully paid. You also consent that the society be at liberty to check our credit history with the existing Credit Reference Bureaus (CRB) and third party credit scoring platforms and that the information obtained be considered in the appraisal of loan applied. We also confirm, that the information has been voluntarily and freely given, in conformity with the Data Protection Act ( 2019 )
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