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Dhamana Loan

loan Overview

·         This is a type 1 loan.

·         Secured by a clean title deed for properties and land in urban and rural municipalities; with no encumbrances.

·         This is a collateral based loan. It’s based on acceptable collaterals of Land at 90 % total forced sale Value and/or 75% total of Market Value (whichever has the higher value).

·         The security for this loan is an acceptable collateral.

·         The SACCO shall undertake valuation of the land on behalf of the member though the expenses shall be charged to the member and offset from the loan.

·         The SACCO shall undertake the legal charge over the property using the SACCO lawyer.  The expenses shall be charged to the member and offset from the loan.

·         The multiplier effect is 4 times deposit.   

·         The repayment period is categorized as follows 72 months at 1.0833% interest rate on reducing balance.  Ability to pay: Pay slip within the 1/3 rule or other proven and acceptable sources of income.

·         One must have a minimum a share capital of KShs. 30,000

·         The minimum monthly contributions/savings shall be KShs. 10,000 after taking this product.

·         The processing time for this loan is about 3-months.

·         The SACCO shall keep the applicant’s title for the duration of the loan.  

·         After full repayment, the applicant shall get back the title and undertake the discharge process on his own.  

·         This loan cannot be refinanced.



  • Loan Type: Dhamana Loan
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