Features

• This loan is granted to members who wish to purchase a tangible asset such as Land, Motor Vehicle, Motor Cycle others include Posho Mill, Water Tanks, Generators, Solar panels and Water Pumps.

•  Membership spanning at least six months.

•  Interest to be charged at 1% per month on the outstanding loan balance at the end of the month (equivalent to 12.68% APR)

•  Maximum repayment period for Motor Cycle, Posho Mill, Water Tanks, Generators, Solar panels and Water Pumps is 12 Months

•  Maximum repayment period for Motor Vehicle is 48 months

•  Maximum repayment period for Land is 72 months

•  No guarantor required, security is the asset to be purchased

•  For motor vehicles, the vehicle should be comprehensively insured until the loan is fully paid.

•  The Sacco finances motor vehicles that are not more than 8 years old

• Pre- sale Valuation of the Asset is a mandatory requirement done by valuers   appointed by the Sacco

• The loanee meets all legal and processing fees in the acquisition of the asset.

•  Certified sale agreement done by Sacco lawyer where applicable

•  Money paid direct to the vendor/Seller of the asset.