This product will help you finance the construction of your own house.
The product is based on the Shariah contract –Diminishing Musharaka.
- Flexible monthly installments up to 20 years
- Free financial consultation
- Competitive profit rates
- Personalized service
- Certified pay-slips for the latest 3 months (May incorporate Joint income with spouse)
- Submission of Letter of introduction from the employer confirming employment status (stating-terms, Retirement age, salary etc)
- Original or certified (by bank) Salary Bank statements for the latest 6 months
- Copy of Identification Card/ passport and KRA PIN certificate
- One colored passport size photo
- Copy of title to property being purchased/charged (Minimum lease term 45 Years)
- Evidence of the project equity contribution by customers (Minimum 30% of the BQ cost excluding value of Land)
- Project’s necessary Approvals:-
- Approved Building Plans and Approved Structural Drawings. These must be drawn by an Architect duly registered by Architectural Association of Kenya (ASK)
- NEMA approval (if applicable)
- National Construction Authority approval ( NCA)
- Supporting Bills of Quantities ( BOQ) drawn by appointed Quantity Surveyor (QS)
- Copy of executed Building contract Agreement stipulating the appointed professionals
- Main contractor to take out a Contractor’s all risk insurance
- Evidence of existing sources of income to service monthly rentals during the construction period
0729111537
