Purpose: Auto loan address the purchase of motor vehicle to members.
Features:
-
Qualifying loan is up to 90% forced sale value for Toyota model and 80% for any other model.
- Interest rate is 1.25% per month on reducing balance.
- One- off insurance fee: 0.5%
- Maximum repayment period is 48 months (4 years).
- Security options: member deposits.
- Minimum share capital of kshs 20,000/=.
- Comprehensive insurance cover to be offer by the sacco.
- Insurance renewal to be done through the Sacco.
- Installation of anti-theft device & joint registration of the vehicle.