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.
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
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.