• Loan meant to meet members needs for asset financing in regards to motor vehicle.
• Approval process takes up to 15 working days
• This product attracts an interest rate of 1.25% p.m on reducing balance.
• Any member who has saved consistently for six months qualifies for a moto gari loan.

1. A duly completed loan application form
2. Attach a copy of ID of the applicant 
3. This product attracts an interest rate of 1.25% p.m on reducing balance.
4. Other charges include application fees at 0.75% of amount applied. 

Important to Note

• This loan is granted by the society and must be fully secured either by guarantors who are members of the society or by use of collateral; Collateral will
  include a title deed/Property
• The applicant is required to be an Active Sacco
  member for a minimum of 6 months
• The applicant is expected to make the
  required monthly contribution even as he/she
  is servicing the loan.
• The member’s credit history will be a major
  determinant for this and future loans.

Loan repayment options

Mode of loan repayment is through:

1. Check off - by employer
2. Standing Order – from Members Bank account to Sacco Bank Account
3. Mpesa – to the Sacco paybill number
4. DigiPesa – from Members Mpesa Directly to members Sacco Account
5. Direct deposit – to Sacco Bank Account through any Coop bank Branch or Coop kwa Jirani Agent
6. Direct debit – Sacco Bank collects from Member’s banks accounts.
7. Money transfers – RTGS, SWIFT, PoaPay, Wave, SimbaPay, JamboGlobal, UAEXchange, Western Union , MoneyGram
   

Apply for this loan