
Loan General Terms
- Interest Rate – 9% P.A.
- Repayment period – 20 years.
- Loan processing fee – Kes.1,000.
- Loan maximum amount – 8 Million
For Construction Home Loans
- Approved building Plans.
- Approved Structural drawings.
- Priced Bill of Quantities.
- Profiles for the Architect, Contractor and Quantity Surveyor.
- Valuation Report-To be done after the borrower has agreed to apply for the home loan.
- Copy of title to property being purchased/charged.
For House Purchase Loans
- Sale Agreement duly signed by both parties and witnessed by a lawyer or offer for sale.
- Valuation Report-To be done after the borrower has agreed to apply for the home loan.
- Copy of title to property being purchased/charged.
External Home Loan Costs to be met by borrower
Legal fees-SACCO to provide a panel of lawyers.
Stamp duty(4% urban&2% rural)-For house purchase cases only.
Valuation fees-Kes.20,000 for land within Nairobi and its environs, Kes.25,000 outside Nairobi. For cases where the land has developments, Kes.25,000 within Nairobi and Kes.30,000 outside Nairobi.
Stamp duty on charge-0.1% of the loan amount.
Annual loan protection insurance premium-0.35% of the loan amount.