We’ll help you buy land for future development
- The amount borrowed shall not exceed a maximum of Kshs 3.5 million, if funds are available, a higher amount can be borrowed and subject to ability to pay.
- The repayment period shall not exceed months 60 months.
- The loan shall attract an interest rate of 1. % per month or 12 % per month on reducing balance.
- To qualify, the member must have been a member for at least 12 months with consistent deposits
- A qualifying loan is considered x3 times member’s deposits.
- A member must show proof of ability to repay the loan per the requirements
- Collateral must be provided prior to borrowing per the collateral requirements.
- You can TOP UP Land/plot loan if you have paid for last 12 months. Top up fee of Kshs 2% on loan balance will be charged.
- Deposit monies used for borrowing must have been in the account for at least 12 months before they can borrow against it.
- Must have not defaulted on any other loan.
- A non-refundable processing fee of 1% of loan amount shall be paid in or be recovered from new loan.
- The cost of valuation and administration fee will be catered by the member and will be deducted from the new loan.
- A defaulter will not qualify for the loan.