Asset Finance is a facility available to all SACCO members who may desire to acquire, develop and own assets/properties. The product is available to meet purchase of various assets as follows:

A) Motorcycle, Water
Tank, Posho Mill, Solar Panel, Water Pump and Generator among others:

The terms and conditions are:

• Must be a member of the SACCO for a minimum of 3 months.                                                                                                         
• Loan security is the Asset to be acquired.
• Loan term is a maximum of 12 months.
• Asset financed is 3.5 times of the Special savings (one must have special Savings)
• Loan amount of up to Kshs.300,000 for motorbike, tuk tuk, posh mill, solar panel, generator etc.
• Grace period is one month.
• Repayment frequency is daily, weekly, fort-nightly or monthly.
• Collateral discharge process requires member to apply for release of security from the SACCO upon clearing the loan.
• The Asset must be fully insured to the term of the loan.

B) Motor Vehicles

Terms and conditions are:

• Must be a member of the SACCO for a minimum of 3 months.
• Loan security is the Asset to be acquired.

Loan term is:

• Brand new Cars(1-7 years) – 48 months
• Used Cars up to 7 years -36 months
• Used Cars (8-10 years) -24 months.
• Loan term is maximum of 180 months for salaried members and 120 months for non-salaried members.
• The Sacco finances  up to 60% of the  forced value of the motor vehicle.
• Loan amount of Kshs 4,000,000 as maximum.
• Interest rate of 1.08% per month or 13 % per annum  on reducing balance.
• The motor vehicle shall be jointly owned with the SACCO and comprehensively insured to term of the loan.
• Repayment and collection will be done either through check off, standing order, pay bill or cash.
• Grace period is one month.
• Repayment frequency is daily, weekly, fort-nightly or monthly.
• Collateral discharge process requires member to apply for release of security from the SACCO upon clearing the loan.
• Valuation, tracking system and legal charge to be borne by the member.
• Motor vehicle Insurance to be auto-renewed by the Sacco and members to pay the Sacco  the insurance premium loan in 12 equal monthly installments at the rate of 1.08% per month or  13% per annum on reducing balance.
• Car track device to be installed by reputable service providers appointed by the Sacco and SLAs to be drawn and signed with clear terms and conditions.
• Log Books to be used as collateral  to be regularly checked/ verified  with NTSA  and the insurers to confirm status by credit administration team.
• The Sacco will finance specific motor vehicles that have resale value.
• Matatus  and tractors  will not be financed  by the Sacco  except for the members  who have accessed similar loans and with good repayment history.

C) Mortgage (Land and Property):
The terms and conditions are:

• Must be a member of the SACCO for a minimum of 3 months.
• Member to acquire it for buying commercial & residential land( within municipalities & urban areas).
• Loan term is maximum of 120 months.
• Asset financed 5 times of Special savings.
• Loan amount of up to a maximum of Kshs.10,000,000 for commercial land.
• Financing will be 100% of the purchase price plus the processing fees & other incidental costs.
• Land must have freehold title or a lease certificate with not less than 20 years before expiry.
• Maximum loan of Kshs.6,000,000 for agricultural land & limit the collateral value to forced sale value.
• Grace period is one month.
• Interest rate of 1.08 % per month or 13 % per annum  on reducing balance.
• Processing fee is 2% of the cost of the Asset.
• Collateral discharge process requires member to apply for release of security from the SACCO upon clearing the loan.
• Valuation and legal charges to be borne by the member.
• Valuation and Charge to be conducted by SACCO appointed service providers.