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Car Loan

Product Description

Own your first car or an upgrade through the SACCO. You can now purchase imported or locally purchased car at 1% p.m and repayment of up to 48 months.

Product Features

  • Loan limit from 300,000.00 to 3,000,000.00
  • Multiplication factor 3 times the deposit
  • Interest rate 1% per month on reducing balance
  • Age limit of vehicle should not be more than 9 years – 1st registered 2005 and after
  • SACCO Financing up to 80% of valuation of the car
  • Must have SACCO comprehensive Insurance Cover
  • Original Logbook will be security for the loan
  • Maximum Loan Repayment period – 48 Months
  • The Car should for Private use and not PSV.