NEW PRODUCTS AND SERVICES MORTGAGE 1.) Acquisition of plots 2.) Group mortgage 3.) Construction of residential houses 4.) Construction of commercial properties REPAYMENT PERIOD Max. period 20 years EFFECTIVE INTEREST PERIOD Market Rates SECURITY Member to provide security as required in the loan agreement form BIASHARA LOAN 1.) Granted four (4) times a member’s shares. 2.) Applicant must be a member of the sacco. 3.) Requires 2 most recent original pay slips, copy of national ID and a copy of the pin certificate. 4.) The applicant must be free from all loan products. 5.) The applicant must have contributed shares and deposits for at least 3 months. 6.) The loan must be secured by at least 5 guarantors who are sacco members as well. 7.) Strict adherence to the 2/3rds rule 8.) Shares/deposits transfered from other saccos qualify for this loan product. REPAYMENTS PERIODS 12
Posted on: Mon, 25 Aug 2014 13:28:38 +0000
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