Log Book Loan

Interest rate

1.5% per month on reducing balance

Maximum amount

KES 1,000,000 or 4× deposits, whichever is lower

Repayment period

Up to 48 months

Processing time

After vehicle valuation

Security

Vehicle log book (joint registration with the SACCO)

Overview

Up to KES 1,000,000 or 4 times your deposits (whichever is lower), secured by a vehicle, repayable over up to 48 months.

Key features

• Vehicles under 7 years old can be financed up to 80% of value
• Financing percentage depends on vehicle type and age

Who qualifies

• Member with savings in the SACCO
• Vehicle not more than 10 years from year of manufacture
• Vehicle must be a popular brand in the market

What you need

• Vehicle jointly registered with the SACCO until the loan is cleared
• Comprehensive insurance cover
• Tracking device installed (cost borne by the member)
• Valuation report — valuation and charging costs are borne by the member

How to apply

1. 1

   Check your eligibility and entitlement (use the loan calculator or log in to the Member Portal)

2. 2

   Download and complete the loan application form, or apply through the Member Portal where available

3. 3

   Attach the required documents and have your guarantors sign

4. 4

   Submit to the SACCO office or email the scanned form

5. 5

   The Credit Committee appraises your application and you are notified of the outcome