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I&M Bank Kenya - I&M Bank Miliki Nyumba

Miliki Nyumba

I&M Bank Miliki Nyumba

Own your dream home sooner than you can imagine! I&M Bank in collaboration with the Kenya Mortgage Refinance Company (KMRC) now offers home loans at an interest rate of 9.5%.

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Benefits

Applicable to customers applying for residential properties

Applicable to customers applying for residential properties

Available for homes below KES 10.5 million at a fixed affordable interest rate of 9.5%

Available for homes below KES 10.5 million at a fixed affordable interest rate of 9.5%

Available to both salaried and self-employed employees

Available to both salaried and self-employed employees

Security charge over property applicable

Security charge over property applicable

Financing for construction loans, straight purchase, takeovers and conversions of residential properties

Financing for construction loans, straight purchase, takeovers and conversions of residential properties

Tax relief benefits

Tax relief benefits

Available for customers in the diaspora

Available for customers in the diaspora

Requirements

Identification Documents: National ID / Valid Passport

Identification Documents: National ID / Valid Passport

PIN Certificate

PIN Certificate

Letter of introduction from the employer

Letter of introduction from the employer

Copy of the property Title Deed

Copy of the property Title Deed

Sale agreement of the property to be purchased

Sale agreement of the property to be purchased

Certified bank statements

Certified bank statements

A marriage certificate if married provide, an affidavit if not married

A marriage certificate if married provide, an affidavit if not married

Evidence of income / latest income

Evidence of income / latest income

Practicing Licenses & Qualification Certificates for self employed and practicing professionals (as applicable)

Practicing Licenses & Qualification Certificates for self employed and practicing professionals (as applicable)

CRB report for applicant and the business name (as applicable)

CRB report for applicant and the business name (as applicable)

I&M Bank Miliki Nyumba FAQ's

Yes, because that will be part of you 10% contribution. However, if there was a loan in it we will not combine the loans.

No. You can only take one loan. Ensure to also indicate it’s a first-time homeowner.

No. The affordable loan should be taken and paid independently of the other loans.

The interest rate of 9.5% will be fixed for the duration of the mortgage facility up to 20 years, dependent on the retirement age. However, to note the Weighted Average Life (WAL) of mortgages is 8 – 9 years hence most loans will be cleared within a shorter period.

As I&M Bank, we have determined it to be Kes 10.5M.

One can choose a house from the Boma Yangu website, any development done where the cost is Kes 10.5M and below or construct your own house. All these options are for  residential houses only.
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