You can get a mortgage or car loan from Safaricom sacco as long as you are a member.The features of these services are as follows:
SAFARICOM SACCO CAR LOAN FEATURES
This facility enables members to purchase private quality cars through co-ownership with the Sacco.
- Loan issued at 3 times of one’s deposits.
- Repayment- 48 months
- Interest rate- 1%p.m on reducing balance
- Original logbook act as security.
- Financing between Kshs.300, 000- Kshs. 7,000,000.Max
- Age Limit of vehicle 9 Years
- Sacco finances up to 90% for new vehicles
- Sacco finances up 80% for used vehicles
- Valuation report, Transfer or Import documentation to be attached
- Disbursed within a Month
- Must be Comprehensive Insurance through appointed Insurance Agent by the Sacco
- Importation documents of the car
- Member must have saved for at least 6 Months (BOSA)
- KRA PIN for both seller and buyer (If not importing with AA Japan or Maridady Motors)
- Dully signed Transfer forms, charges will apply according to prescribed KRA Rates
- Member to bear Logbook & Car Track Charges
SAFARICOM SACCO MORTGAGE FEATURES
This product is intended to empower members undertake development projects for ready houses with long-term benefits
- Loan issued at 5 times of one’s deposits.
- Maximum Repayment- 15 Years
- Interest rate- 12% p.a. on reducing balance
- No Guarantors required
- Maximum Loan- Kshs.20M
- Minimum Value Kshs.3M
- Property Insurance at 100% of Mortgage value
- Access: One (1) Mortgage product at a time
- Security : Title Deed or Sub lease
- Must have saved with the Sacco for 1 Year.