Asset Finance

Asset Finance

Meant to finance personal cars and motor bikes.

Features:

  • Valuations required from a list of valuers in the SACCO panel (cost to be met by applicant)
  • Transfer fees to be borne by applicant
  • Joint ownership with the SACCO until completion of loan
  • Comprehensive insurance cover to be taken with KWFT insurance company.
  • Financing up to 80% of the value of the asset, member to pays 20% directly to the vendor [prove of payment to be forwarded to the SACCO].
  • Two guarantors required who must be members of the SACCO.
  • Chattel mortgage required 
  • Repayment period 18 to 60 months
  • Interest 1.25% p.m. on reducing balance
  • Processing fees 1%