CONSTRUCTION LOAN

Do you have land that you wish to develop?

  • The amount borrowed shall not exceed Kshs. 6 Million; however, a higher loan amount may be approved subject to availability of funds.
  • The maximum amount borrowed shall not exceed three (x4) times the member’s deposits.
  • The loan shall attract interest rate of 1.1% per month on a reducing balance.
  • The repayment period shall be a maximum of 84 months.
  • You will need to have Sacco escrow account with equivalent of at least three months loan repayment amount. This balance must be maintained throughout the loan duration.
  • Pay a non-refundable loan-processing fee of 1.5% of loan amount.
  • A member is entitled to another type of Loan only if the three times deposit rule could apply.
  • You can top up after 12 months of repayment.
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