KMRC Mortgage
Access mortgages at fixed single digit interest rates for a period of up to 25 years.
Account Overview
Access mortgages at fixed single digit interest rates for a period of up to 25 years.
What You Need to Open an Account
The requirements are as follows:
Age 21years to 60 years or retirement age whichever is earlier.
Must be a Kenyan Citizen whether employed or self employed
Maximum Debt Income Ratio of 60% of net income
Good credit reference bureau rating
Upon approval open an account and salary & business income channeled into the account
KYC Documents – ID, KRA PIN
Sale Agreement /Offer Letter.
Title/Lease agreement/Sectional title of property
Latest 3 months payslips certified by employer (salaried applicants)
12 months income proof (self-employed)
Latest 6 months certified bank statements (if not banking with DTB)
Other terms & conditions applicable
Copy of duty executed sale agreement duly signed dated and stamped
Valuation report from an authorised valuer
Copy of offer letter or draft agreement
Certified copy of title deed
Personal Banking Customers
Interest rate: 9% for 10 years and below, 9.75% for 25 years
Loan Term - Up to 25 years subject to retirement age.
Target market - A fixed monthly salary or income, Workplace banking customers, Business owners, Diaspora Customers
Loan to Value (LTV) – up to 105%
Balance Transfer/Take over - Loan should have been disbursed within the last 3 years)
Mortgage capped at Kes. 10.5M in Nairobi metropolitan area (Nairobi, Kiambu, Machakos & Kajiado) and Kes. 5M elsewhere
All Counties in Kenya
Business Banking Customers
Interest rate: 9% for10 years and below, 9.75% for 25 years
Term - Up to 25 years.
Target market - Business Banking customers VSE & MSME, Salaried customers, Diaspora customers
Loan to Value (LTV) – up to 80%
Mortgage capped at Kes. 10.5M in Nairobi metropolitan area (Nairobi,
Kiambu, Machakos & Kajiado) and Kes. 5M elsewhere
All Counties in Kenya. (No ancestral property)
Balance Transfer/Take over - Loan should have been disbursed within the last 3 years.
