Use of collateral as security

Members can use their assets as security for their loans.

Product Name: Collateral loan

Maximum Amount: Kshs. 30M

Repayment Period: 84 months

Interest Charged: 1.05% per month on reducing balance

Security: Title deed of commercial land/building or agricultural land

Incidental cost: All incidental costs are borne by the loan applicant before the loan is processed (eg. legal fees, valuation charges)

Other factors: Amount granted will be based on the 2/3 rd of salary and 70% or 50% of the mortgage value of the security given