Loan Principal Reduction

Loan Principal Reduction

The Kenya Bankers allows for early bulk loan repayment however, this  does not happen if you credit directly to the loan account. In the event  a member requires this, it is advised that you credit funds to your FOSA account or any of our bank accounts and thereafter, write an e-mail instruction through help@kenyabankers.coop attaching a payment advice for this to be effected.
While requesting for a principal reduction, kindly ensure to clearly indicate whether you aim for the principal reduction is to maintain the initial repayment amount so the loan is cleared earlier or if you would prefer that the period for repayment is maintained so that the repayment amount reduces.

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