Dear Esteemed Members,
Due to prevailing economic challenges, and in order to continue providing sustainable services, Malawi Police SACCO has revised its loan rates and introduced a Payroll Management Fee (PSM). These adjustments will ensure that we continue to meet the financial needs of our members.
Revised Loan Rates (Effective 1st January 2025):
| PRODUCT | OLD RATE | NEW RATE |
| Short Term | 2.75% | 3% |
| Mlatho | 3% | 3% |
| Medium Term | 3% | 3.25% |
| Capacity Based | 3.75% | 4% |
| Education | 3.75% | 4% |
| Recruit Package | 3.75% | 4% |
Other tariffs;
| Mthandizi Funeral Cover | Free |
| Loan application Form | Free |
| Savings withdraw per transaction | Free |
| Balance inquiry | Free |
Introduction of Payroll Management Fee – PSM
All members will be charged a PSM Fee of K1,000 per month, effective 1st January 2025.
As always, Malawi Police SACCO remains committed to offering affordable rates and delivering financial solutions tailored to your needs.
By Order of the Board
Malawi Police SACCO
“Saving and Growing Together”