Normal Loan 2 (Asset Financing )

Loan advanced to active Sacco members who intend to acquire assets like piece of land, motor vehicle, farm machinery or to develop already acquired asset.

 

LOAN FEATURES

 

  • Minimum loan amount is kshs 200,000 and Max mum loan advanced is Kshs 2.5 million subject to five (5) times member deposit.

  • Interest rate 1.5% pm on reducing balance.

  • Loan facilitation fee 0.5% of approved amount

  • Affidavit 200

  • Credit reference report

  • Max mum repayment period 60 month

  • Loan is secured by title deed ,motor vehicle or any other asset recommended by board of directors, members can also add guarantors if the asset used as security cannot fully cover the loan advanced

  • Cost of valuation and perfection of the security held to be catered by the borrower

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