LAND/PLOT LOAN

We’ll help you buy land for future development

  • The amount borrowed shall not exceed a maximum of Kshs 11 million if funds are available, a higher amount can be borrowed subject to ability to pay and security provided.
  • The repayment period shall not exceed months 84 months.
  • The loan shall attract an interest rate of 1. % per month or 12 % per month on reducing balance.
  • To qualify, the applicant must have been a member for at least 6 months with consistent deposits.
  • A qualifying loan is considered 4 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 Refinance Land/plot loan if you have paid for the last 6 months. Refinance fee of 2% on loan balance will be charged.
  • Deposit funds used for borrowing must have been in the account for at least 6 months before they can borrow against it.
  • Must have not defaulted on any other loan.
  • 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
  • The cost of valuation and administration legal fee will be catered by the member and will be deducted from new loan.
  • A defaulter will not qualify for the loan.
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