Motor Vehicle Loan
Drive your dreams, powered by us
Helping you get the vehicle you want, fast
Your journey begins with a single key turn. Whether you’re upgrading your ride or buying your first car, our motor vehicle loans are designed to get you moving. With flexible terms, competitive rates, and personalized support, we’re here to help you steer toward independence and freedom, because every road leads to new possibilities
Loan Details
Designed to assist members to purchase a vehicle for personal or commercial use.
- The maximum amount borrowed shall not exceed four (x4) times the member’s deposits.
- The maximum amount is Kshs. 5 million.
- The SACCO will finance 80% of the market value of the motor vehicle.
- Interest is charged at 1% per month on reducing balance.
- The maximum loan term will be 48 months.
- A valuation must be done by the Registered automotive at member’s cost.
- The vehicle will be owned jointly by the member and KNADS until loan clear.
- You can refinance a motor vehicle loan if you have paid for the last 6 months.
- Refinance fee of 2% on loan balance will be charged.
- A non-refundable processing fee shall be recovered from the new loan as follows:
- 1.5% for loans below Kshs 9 million and
- 2% for loans above Kshs 9 million
Build Your
Financial Future
Key Benefits
Low interest rates of upto 1.17% on loans reducing balance
Great interest rates on your savings of upto 7% p.a.
Borrow upto 5x your savings amount
Extended repayment periods of upto 84 months