Asset Finance Loan

1. A loan product for Individuals who plan to purchase chargeable property i.e. Land and Motor vehicle

2. The initial loan shall be at an amount of Ksh. 15,000,000 Maximum

3. Flexible repayment period to a maximum of 72 months (6 years) at a rate of 13% interest for LAND acquiring ,where 80% of the Valued amount will be used as a collateral if the plot of land is located in a metropolitan area and 50% if the plot of land is located outside a metropolitan area.

4. Flexible repayment period to a maximum of 48 months (4years) at a rate of 13% interest for MOTOR VEHICLE acquiring ,where 50% of the Valued amount will be used as a collateral.

5. Flexible repayment period to a maximum of 24 months (2years) at a rate of 13% interest for MOTOR CYCLE acquiring ,where 50% of the Valued amount will be used as a collateral.

6. Insurance of 2 % shall be charged. Initial loan will be granted after regular savings of 6 months and shall be 4 times member’s savings.

7. All legal fees, valuation fees and other transaction charges shall be borne by the applicant.Motor Vehicle and Motor Cycle used as collateral must have a Comprehensive Insurance and fitted with Track-it.

QUALIFICATION FOR LOANS
The member must have made the minimum deposit contribution for a continuous period of 6 months and must have paid up the required share capital.

How to make payments
Cash deposits must be made in the Sacco’s bank account at co-operative bank, co-operative house branch account number 01120000545800 Cheques are drawn in favour of “Dhamini SACCO Society LTD”

PAYBILL NO: 375900