This loan facility is available to members of the SACCO who are also members of Sheria Housing Co-operative who would like to acquire plots at the Housing Co-operative.
Its features includes:-
- Maximum amount is KES 2,000,000
- Interest of 1% p.m. on reducing balance
- The maximum repayment period is 48 months
- Loan not based on three (3) times deposits but the ability to repay
- The land to be co-owned until the loan is fully repaid
- The loan will be paid directly to the Sheria Housing Co-operative
- The loan commitment form will be signed by three parties i.e the borrower, the Housing Co-operative and the Sheria Sacco Society.
Terms and Conditions:
- Mode of Recovery: Check off
- Fully guaranteed by deposits
- Land co – owned until fully repaid