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Kyapa Loans
Ideal for kibanja owners or all those people who want to acquire and use the land for productive purposes or settlement
Main Features
- Grace period of up to 12 months
- Interest paid on a regular basis during the grace period
- Borrowers will be required to make an equity contribution of 10% of the total land cost
- Repayments will be tied to borrowers’ income pattern of the kibanja owner
- Individuals who already have Kibanja loans can be considered for additional loans based on their capacity to service the two loans
Benefits
- Low interest rates
- Flexible payment mode depending on the projected borrowers cash flow and can be bi-weekly, monthly, quarterly or biannual
- Repayment period of up to 10 years
- Grace periods ,multiple disbursements, and irregular payments are allowed
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Loan amounts can range from 100,000/= to 100,000,000/=
- Insurance pays off the loan in the event of death of kibanja owner
Basic Requirements
- Must have land developed with residential or commercial premises or used for agriculture.
- Must be engaged in economic activities as an owner or tenant of land
- Must reside within the branch’s operational area or be a member of an agent SACCO that will monitor the loans on behalf of PostBank
- Must have a savings account or current account
- Applicant must not have more than one outstanding loan facility with PBU
- Must not have registered ownership of the land
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Credit Services
