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Car Loan

Product Description

This facility enables members to purchase private quality cars through co-ownership with the Sacco.

Product Features

  • Loan issued 3 times deposits.
  • Repayment- 48 months
  • Interest rate- 1%p.m reducing balance
  • Original logbook act as security.
  • Financing between Kshs.300, 000- Kshs. 5000,000.
  • Age Limit of vehicle 9 Years
  • Sacco finances up 80% of Valuation.
  • Valuation report, Transfer or Import documentation to be attached
  • Disbursed within a Month
  • Must be Comprehensive Insurance through appointed Insurance Agent by the Sacco
  • Importation documents of the car  
  • Member must have saved for atleast 6 Months (BOSA)  
  • KRA PIN for both seller and buyer (If not importing or purchasing with AA Japan or Maridady Motors
  • Dully signed Transfer forms, charges will  apply according to prescribed KRA Rates 
  •  The member bears Logbook & Car Track Charges
  • The car should be for private use and not PSV