Car Loan

Product Description

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

Product Features

  • Loan issued at 3 times of one’s deposits.
  • Repayment- 48 months
  • Interest rate- 1%p.m on reducing balance
  • Original logbook act as security.
  • Financing between Kshs.300, 000- Kshs. 7,000,000.Max
  • Age Limit of vehicle 9 Years
  • Sacco finances up to 90%  for new vehicles
  • Sacco finances up 80% for used vehicles
  • 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 at least 6 Months (BOSA
  • KRA PIN for both seller and buyer (If not importing with AA Japan or Maridady Motors)
  • Dully signed Transfer forms, charges will  apply according to prescribed KRA Rates
  • Member to bear Logbook & Car Track Charges