Developer Login

Plot Purchase

The purchase of undeveloped urban parcels of land for future development or for investment purposes.

Features/benefits:

  • Up to 60-80% financing depending on nature of employment and location.

 

Requirements:

  1. General requirements:
    • Duly completed application form
    • Copy of National ID / Passport
    • Copy of KRA PIN
    • Open / Operate a Co-op Bank account (to service loan repayments)
    • Copy of Title / Lease over property being purchased (Minimum lease term - 25 years post loan tenure)
    • Duly signed Sale Agreement/draft sale agreement/ letter of offer (For Outright purchase)
    • Current Valuation Report (upon loan approval)
    • Evidence of Deposit paid
       
  2. Non-Salaried customers to provide:
    • ​​Business history, profile and background
    • Business registration certificate
    • Audited Books of Accounts for last 3 years
    • Projected Cash-flows, Balance Sheet / Profit & Loss Account for next 3 years
    • Bank statements for the last 1 year to date; Co-op and Other Banks
    • Full details of all Borrowings and Facilities Advanced from other institutions (e.g. letters of offer, loan statements for 6 months)- where applicable
       
  3. Companies to additionally provide:
    • ​​Memorandum & articles of association
    • Board resolution authorizing borrowing
    • Certificate of incorporation
       
  4. Landlords to additionally provide:
    • ​​Rental income schedules/Tenancy agreements
    • Proof of ownership for all rented properties
    • 6 months bank statements where rental income is banked
       
  5. Salaried customers to provide:
    • 3 months pay slips - Originals or Certified copies
    • 6 months salary bank statements - Originals or Certified copies 
    • Letter from employer stating:  Position/ Length of service/ Retirement age/ Income/Employment terms, (permanent or contract details)
    • Where on contract employment: copies of existing and previous contracts & CV to confirm professional background
       
  6. Diaspora Customers to additionally provide:
    • Copy of Kenyan Passport
    • Registered Specific Power of attorney
    • Utility bill 
    • Copy of work permit/residency permit
    • KRA Pin Copy 
    • 3 months pay slips/paystubs - Originals or Certified copies 
    • 6 months salary bank statements - Originals or Certified copies 
    • Letter from employer stating:  Position/ Length of service/ Retirement age/ Income/Employment terms, (permanent or contract details)
    • Where on contract employment: copies of existing and previous contracts.

    *Diaspora documents have to be notarized by a Notary Public

Other notes:

MAXIMUM REPAYMENT PERIOD

  • Self- employed individuals /SME borrowers - 15 years
  • Company borrowing - 10 years
  • Saccos/societies - 10-15 years
  • Employed borrowers - 20 years
  • Diaspora borrowers - 10 years
  • Land purchase - 5 years for self- employed and 10 years for employed 10 years.
  • Special schemes - 20 years