Logbook Loan
Log book financing is a form of financing Sacco members, whereby the loan advanced is secured against the borrower’s motor vehicle to help you unlock trapped cash in your car and to pay insurance in instalments as opposed to as a lump sum within 24 hrs after completing all processes to help meet your personal and business financial needs without selling your car.
Target clients
- Salaried/business members
Features
- Fast processing within 24 hrs after completing all processes
- Maximum Loan term of 24 months
- Penalty of 4 % per month on amount in default
- Log book transfer fee ksh.3500 paid to NTSA pay bill No
- Loan amount is based on the customer’s ability to pay.
- Referee/introducer
REQUIREMENTS
- A duly completed loans application form.
- Original latest payslip
- CRB scoring must be good
- 2 Copies of the ID & PIN certificate
- Motor vehicle Valuation Report
- Original Log Book bearing the names of the owner
- The vehicle must have a comprehensive Insurance cover
- The vehicle must be tracked