MOTOR VEHICLE LOAN

Helping you get the vehicle you want, fast

Designed to assist members to purchase a vehicle for personal or commercial use.

  • The maximum amount borrowed shall not exceed three (x3) times the member’s deposits
  • The maximum amount is Kshs 2.5million
  • The SACCO will finance 80% of 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 KNADS at member’s cost.
  • The vehicle will be owned jointly by the member and KNADS until loan clear.
  • You can top up motor vehicle loan if you have paid for last 12 months.
  • Top up fee of Kshs 2% on loan balance will be charged.
  • Processing fee of 1% on approved loan amount.
Apply Loan
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