Notice is hereby given to KMA Savings and Credit Co-operative Society that pursuant to KMA SACCO LTD By-law 66, the Sacco in the event of any loan account going into default:
Please be guided accordingly.
In order to enhance greater value to SACCO Investors, the SACCO shall revise downwards the loan interest rate for Asset Finance, Equity Release, Kitengela Plots, Swift Development and Mid-Term Swift Development loans to 14% p.a. effective 1st January, 2018
Existing loans whose repayment is up to date will automatically move to the reduced interest rate for the remaining period of the loan. The SACCO will not extend the repayment period but investors are free to clear the loans earlier with no penalties.
Investors with loan arrears are required to update their loan account(s) by 31st December, 2017 in order to benefit from the reduced interest rate.
Medifinance limited - The Investment arm of KMA Sacco ltd offers for Sale 32 (Thirty Two ) 50 X 100 ( 1/8th ) plots at Kitengela 4 Km from Yuko’s Petrol Station near the Acacia Schools and 31 ( Thirty one ) 50x 100 ( 1/8th ) plots at Upper Matasia Ngong 3 km from Magadi Road at St Patrick’s School on a first come first served Basis due to the limited number of plots.
The Selling Prices for the plots are Ksh 950,000.00 per plot for Kitengela and Ksh 960,000.00 for Ngong as earlier advised during the request for Expression of interest in December 2016.
Please book your plot through payment of at least 10% deposit to the Bank Account below to reserve your plot. The balance is payable within 60 days.
Financing, in the form of asset loans, is available at KMA Sacco for qualifying Sacco members at 14.0% p.a, reducing balance.
The Prices are inclusive of transfer fees, legal fees and stamp duty.
Those borrowing from the Sacco will be required to meet the cost of charging their titles to secure the loans.
Attached please find the site plans for both Kitengela and Ngong parcels and note that viewing of the plots, balloting and allocation of plots shall be done at a date to be advised by the Company.
Bank of Africa Kenya limited
Account Number: 046 224 20008
Upper Hill Branch
Bank Code: 19023
Letters of offer shall be given after receipt of the deposit for the plots.
KMA SACCO LTD,
P.O Box 413-00202,
Kindly send your instructions by 30th April, 2017.
The following options are available:
1. Ploughing back to your deposits.
2. Utilizing them for Loan Repayments.
3. Insurance Premium payments.
4. Payment to your Bank Account - Provide Banking details(Your name, Bank Name, Branch and Account number) in your instructions and payments will be made starting 1st May 2017.
Please note that Investors with defaulted loans and other unpaid Sacco obligations including unpaid insurance premiums can only be paid after the obligations are settled as a matter of policy.
We highly encourage Investors to plough back their dividends and interest on member deposits to realize more income in to the future.