LOAN POLICY UPDATES

CAR LOAN

• This loan is purely for personal cars. Maximum limit is Kshs. 3 Million

• Cars aged 0 – 3 years to be repaid within 48 months

• Cars above 3 years to be repaid within 36 months.

• In addition to the purchase required price, members will also be to meet the following costs:

1. Joint car insurance by CIC  Group at 4% of the value of the car
2. Valuation fees of Kshs.3500/=

3. Installation of car tracking device at Kshs. 30000/=

NB: The above amounts must be paid to the Sacco, if not yet incorporated in the total amount applied, before the vehicle is released to the member.
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