Features

• Loan issued at 10 times of the members savings.
• Interest Rate – 12% p.a. on reducing balance.
• No Guarantors required.
• Loan repayment period is 20 years (subject to retirement age & the terms of Employment)
• Loan Recovery will be via checkoff.
• The loan security will be a title deed/Sub Lease.
• Minimum value Kes.1.5M
• Maximum Loan Kes.20M
• Financing available at 105% of Mortgage value.
• Mortgage buy-off available.
• Refinancing other loans shall not be allowed.
• Processing fee of 0.5%
• SLA within 90 days.
• All related fees shall be included on the application and the member’s deposits used as security for the same (the respective deposits will then be held in lien)
• The offer shall only be available for ready houses.
• A member must have saved with the Sacco for 6 months to qualify for the facility.