• A member whose car loan has been financed by the Sacco will automatically qualify for Motor vehicle insurance loan without additional security.
• If a member doesn’t have car loan he/she will be granted up to his/her entitlement i.e. total loans shall not be more than three times (3) times the members total deposits.
• The loan is payable within a maximum period of 12 months or as may be approved by the credit committee.
• The general provision applicable to loan products applies to this loan