Makao Halisi LoanFeatures

• The Maximum Limit is Kshs. 30,000,000
• Extent of financing: 100% of the value to be constructed
• Security: 30% plot title and the house structure 70%
• Deposit Requirement: Member can qualify for a loan 5 times the amount of deposit regardless of other existing and future loans with the Sacco
• Ability to pay: Payslip and other approved sources
• Interest: 1.16% per month on reducing balance
• Repayment Period: Eight four (84) months
• House ownership: Jointly owned by the sacco and the member
• Member comes with their contractors. Sacco develops a check list for the contractors that must be met


• *Other terms and conditions of Kimisitu Loans apply

Makao Halisi Products Aspects

PROPOSAL DEPOSITS TO LOAN CONTRIBUTION TIER-MAKAO HALISI ONLY
Loan Amount Deposit Contribution
Upto Kshs: 500,000 Kshs: 3,000
Kshs: 500,001 to 1,000,000 Kshs: 4,000
Kshs: 1,000,001 to 2,000,000 Kshs: 5,000
Kshs: 2,000,001 - 5 million Kshs: 6,000
Above Kshs:5 million Kshs: 10,000

Constructing a House


•Members qualify for a loan 5 times the amount of deposit regardless of other existing and future loans with the Sacco
•Loan secured by the plot 30% and house structure 70%
•Maximum Limit is Ksh 30,000,000
•Interest rate 14% on reducing balance
•Repayment Period of 84 Months
•Funds to be disbursed as per the project managers report.
•Funds disbursement in phases after certificate of completion. (25% during the initial phase, 50 % for walling and Roofing then 25 % for practical completion)

Acquisition of a Complete House


•The member identifies and negotiates for the house
•The member can apply 5 times of their deposits
•Maximum Limit is Ksh 30,000,000
•Interest rate 14% on reducing balance
•Repayment Period of 84 Months
•Funds to be disbursed as per the project managers report.
•Funds disbursement in phases after certificate of completion. (25% during the initial phase, 50 % for walling and Roofing then 25 % for practical completion)

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