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Asset Finance Loan

 
 
 

Product Description

 
This is a loan that is secured by land or land and property on the land. However, in the interim, the land
or property must be within the Nairobi Metropolis that is a radius of 70km from Nairobi and with at least two banks within the vicinity.
 

Features

 
  • Qualifying Loan is 3 times a member’s deposits subject to a maximum amount of Kshs. 12,000,000.
  • Full Sacco Membership of at least 6 months.
  • Maximum loan period is 72 months.
  • Interest is charged on reducing balance at 1% per month for loan repayable within a period of 1 to 48 months or 1.1% per month for loan repayable over a period of 49 to 72 months.
  • Security options: Qualifiying assets, Guarantors’ deposits, member’s own deposits, motor vehicle logbook, Kentours Housing land title deed, life assurance policy.
  • Evidence of ability to repay: Latest pay slip.
  • Approved within 7 working days.