Own your first car or an upgrade through the SACCO. You can now purchase imported or locally purchased car

Product Features

  1. Maximum entitlement is 4 times total deposits plus shares.
  2. Repayment period of 48 months
  3. Interest rate of 1.125% (13% per month for used vehicles
  4. Interest rate of 0.96% for new vehicles
  5. Financing of up to 75% for used vehicles and 90% for new vehicles respectively.
  6. Log book can be used as collateral
  7. Terms and conditions on self- guarantee apply

Requirements

  • You need to be a Sacco member for six months and have met the loan eligibility criteria
  • A duly completed loans application form
  • Sale agreement
  • Valuation report (not more than 3 months)
  • Invoice.