Home Appliance Loan
This is a loan granted towards the purchase of household appliances such as water tanks, TVs, fridges, cellphones, cookers, solar equipment etc.
- Qualifying loan is 3 times a member’s deposits subject to a maximum amount of Kshs. 1,000,000.
- Full Sacco Membership of at least 6 months.
- Maximum loan period is 36 months.
- Interest is charged at 1% per month on reducing balance.
- Processing fee of Kshs. 200, and Excise Duty of 20% on the processing fee is charged.
- Security options: Guarantors’ deposits, member’s own deposits, motor vehicle logbook, Kentours Housing land title deed, life assurance policy.
- Evidence of ability to repay: Latest pay slip.
- Approved within 3 working days.