a) Land & Land Building Collateral

The land or land & building must be within Nairobi, its surrounding and towns in Kenya, fully owned by the member or his/her spouse. Valuation of the vehicle shall be done by registered valuer appointed by Kimisitu Sacco and valuation report submitted directly to the Sacco. Kimisitu Sacco shall issue the borrower with a letter of instructions to the valuation company to facilitate the process. The loan to be secured by either 100% or 90% value of forced sale value depending on the land location as shown in the table below:

Nairobi Metropolitan area, Mombasa, Kisumu, Nakuru, Eldoret 100% of forced sale value
Other County Headquarters and Towns with at least 2 banks. (It is known that presence of banks is indications of improved economic activities) 90% of forced sale value


a) Duly filled loan application form

b) Current certified pay-slips, Copy of ID, KRA Pin

c) Copy of signed sale agreement between the borrower and vendor to be submitted to the Sacco Most current copy of title deed.

d) The borrower must have clear and proven source of repayment – already existing income streams that are sufficient to meet expected repayment.

e) Security to be by way of first legal charge on the property being financed and/or another property.

f) Loan secured by the plot 30% and house structure 70%.

g) Property to be valued by a valuer on the Sacco’s panel

h) No adverse Credit Reference Bureau (CRB) report

i) Profile of the registered contractor

j) Approved architectural and structural drawings of the proposed project.

k) Evidence of up to date land, rent & rates payment (i.e. receipts where applicable)

l) Original Bills of Quantities prepared by a registered quantity Surveyor

m) Project Implementation Schedule (Contractor’s work plan) detailing all activities and scheduled time frames.

n) Building contract agreement between borrower and contractor.

(i) Charging of Land or Building:

Upon valuation of collateral and approval of loan, the Sacco shall secure the property offered as collateral by way of registering a charge at the relevant Lands Registry. We arrange for legal processes by Sacco-appointed service providers


a) Original title documents of the parcel of land.

b) Copies of Seller’s and borrower’s PIN and ID cards;

c) 3 recent passport size photographs of the borrower;

d) Land Valuation report by Sacco’s appointed service provider;

e) Postal address, telephone and e-mail address of the borrower.

In case the borrower is married he/she is required to provide the following:

a) Provide copies of the spouse’s PIN certificate and ID card;

b) 3 recent passport size photographs of the borrower’s spouse;

c) Duly executed spousal consent. In case the borrower is not married he/she is required to swear an affidavit to that effect.


a) Land Rates clearance certificate

b) Land Rent clearance certificate

c) Land Control Board Consent to Charge

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

1. Acquisition of Complete House

• The member identifies and negotiates for the house.

• The member can apply 5 times of their deposits

• Loan to be secured by the building and other security

• Finance is released in phases

• Maximum Ksh 30,000,000

• Repayment Period 84 Months

• Interest rate 14% on reducing balance

2. 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

-25 % for practical completion

3. Costs to be incurred by the Member

• Valuation fees (Depend on the location of the property, minimum Kshs:15,000)

• Charging costs ( As stipulated in the Advocate Remuneration 2006)

• Project Managers cost (1.5% of the project)

• Insurance costs on the building

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P.o Box 10454 00100
Nairobi, Kenya
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