· · Qualifying amount is 7 times the member’s deposits up to a maximum of Kshs. 25 Million subject to the location of the property and the one-third rule.
(City – 90%, County – 70%)
NB: Agricultural property not considered.
· Interest rate of 14% per annum on the reducing balance irrespective of the contract period.
· Use of reserve value/forced sale value in determining the loan to value.
· Repayment period of 15 years or 180 months subject to retirement age.
· The Loan Security is the Asset’s title deed.
Eligibility for this product: Current employment contract, which should not be less than 6 months to expiry.