Car Loan
Kanisa Sacco now enables its members to purchase new or used vehicles through this facility.
Loan Details
- Maximum Loan amount of KShs. 3,000,000
- Access up to times 3 of member’s deposits
- Interest rate is 1% pm on reducing balance,
- Maximum repayment period of 48 months (4 years)
- Age limit of the car is 8 years and below
- The motor vehicle must be valued by KANISA SACCO’s identified valuer; and be on a CIC comprehensive insurance for the duration of the loan;
- Payment shall be made directly to the seller after provision of a signed sale agreement through an agreed mechanism but which do not contradict the SACCO’s Financial and Credit Policies.
Benefits of Car Loan
High Loan Amount
We provide maximum loan amount of KShs. 3,000,000/-, allowing you to acquire the automobile that best meets your needs and tastes.
Competitive Interest Rate
Enjoy a low monthly interest rate of 1% on reducing balance, assisting you in keeping your monthly payments affordable and manageable.
Flexible Repayment Terms
We offer up to 48-month or 4 years repayment period, reducing financial stress by spreading out installments thus increasing financial flexibility.
