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Mwalimu Sacco Asset Financing Schedule – Financing Options

| December 3, 2025 | TSC Latest News | No Comments
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ASSET FINANCING SCHEDULE-FINANCING OPTIONS

ASSET TYPE ASSET CONDITION MEMBER TO FINANCE MAX REPAYMENT PERIOD
Private/Saloon Cars New 20% 5 yrs.
Used* 30% 4 yrs.
Commercial Vehicles

(Prime movers, trucks, pickups, Vans)

 New 20 % 4 yrs.
Used 30% 4 yrs.
School Buses New 15% 4 yrs.
PSV Vehicles

(Tour Vans, Taxis, Hires)

 New 30% 3 yrs.
Used 40% 3 yrs.
PSV Matatu and Buses Used 40% 2 yrs.
New 45% 3 yrs.
Motorbikes New 30% 1 yr.
Trailers New 30% 4 yrs.
Tractors and related agricultural implements New Used 30% 4 yrs.
Office Equipment’s (Computers, Printers, Servers,) New 40% 3 yrs.
Industrial Equipment (Plant and Machinery) New/Used 40% 3 yrs.
Contractor Equipment/ Earth New 30% 4 yrs.
Movers Used 35% 3 yrs.
Specialized Equipment’s – Medical, New 40%
Lab Used 50%

 

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REQUIREMENTS

  1. Individuals
    1. Fill loan application form
    2. Copy of Identification document
    3. Copy of KRA PIN Certificate
    4. Pro forma invoice/sale agreement of asset being
    5. Six months Bank statement duly certified

SUPPORTING DOCUMENTS:

  1. Sales agreement/Proforma invoice for asset being
  2. Copy of Logbook for used
  3. Latest 3-month payslips
  4. Contracts being serviced if any for commercial

Other features:

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  • Insurance premiums financing shall be arranged through MNS Risk and Insurance Brokers
  • Mwalimu Insurance Premium Financing Product Features
    • Brand name

Mwalimu Insurance Premium Financing

    • Loan to acquire Insurance Premiums for all needs and other fees g., Motorcycles, Motor car, Machineries, properties, domestic animals and business stock, crop, green house.
    • Loan Term of Up to 10
    • Flexible repayment
    • Disbursement in cheque drawn in favor of the insurance
    • Cover will be through MNS Risk and Insurance brokers
    • Security –
  1. Asset documents lodged with the
  2. The comprehensive cover
  3. The borrower to meet 10% of the total premium before signing of the IPF application and agreement
  4. 2 Guarantors
  5. Confirmation of Asset bought or being insured

Price

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  • Interest rate at 10% flat rate
  • Default Management:

*   The cover is cancelled as soon as the insured does not respond to 1st notice within 30 days.

  • Pricing as per the tariffs schedule
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