Kenya Commercial Bank and Housing Finance will act as administrators of the loan scheme on behalf of the government/FILE
NAIROBI, Kenya, Nov 24 – 250 housing units in Kisumu will be up for grabs in 2017 under the civil servants Housing Scheme Fund.
Director of Civil Servants Housing Fund Joseph Nguyai says once completed the housing units will be open for purchase.
Nguyai says the fund will be available for any government worker who intends to purchase property or construct homes.
He says that Kenya Commercial Bank and Housing Finance will act as administrators of the loan scheme on behalf of the government.
Speaking in Kisumu when he toured the units being put up at a cost of Sh729 million, Nguyai announced that civil servants who are on contract terms of service and have unexpired contract of 12 month are eligible to benefit from the scheme.
He says that the units are in three categories to make options for the civil servants during purchase.
Nguyai says top ranking public officers will access up to Sh. 20 million home loans while junior officers will be entitled to a mortgage of up to Sh. 4 million with repayment period of 20 years at an average of 5 per cent on a monthly reducing balance.
