Longer repayment period of up to 144 months (12 years)
Low interest rate of 1% per month on reducing balance
Loan multiplier of 5 times the deposits.
Maximum loan amount is Ksh. 15 million
Minimum loan limit is Ksh. 500,000
Insurance premium of 0.5% of the loan
Loan is secured with the property being purchased/developed and/or any other property with equal or higher value.
The property must go through all the processes for collateral perfection before the loan can be processed and disbursed. Land title deed or sub-lease.
Top-up allowed on the loan at a one-off commission of 3% of the outstanding loan balance Loans for construction is disbursed in phases as per the contractor’s work plan.
Loan for land purchase, construction, commercial housing and National Co-operative Housing/NACHU off-plan houses are financed at 100% while those for house purchase and incremental housing are financed at 105%.
Bank Buy offs for mortgages will be facilitated at 100% based on above qualifications depending on the sub type of the loan being bought off as per above features.
Incremental Housing: This is where the construction is done in phases depending on ability to pay and stages. Member can be financed for the specific section of the house that is pending.