ABSA Bank Kenya Plc Unsecured Business Loan Details

Loan Cost

• ‍‍Interest: 14.5%
• Application Fee: 0
• Processing Fee: 3%
• Excise Duty : 20% of processing fee

Loan structure‍

• Type: Unsecured
• Interest structure: Reducing Balance
• Security needed: None

Loan  Details‍

• Loan size: SME
• Minimum tenure: 6 Months
• Max tenure: 5 Years
• Minimum Amount: ksh100K
• Max amount: ksh6M
• Repayment Frequency: Monthly
  ‍

Eligibility‍

• Time in operation: 12 Months
• Banking History: 6 months

Documents‍

• Certificate of incorporation or certificate of compliance if not locally incorporated
• Memorandum and articles of association/CR8, CR12
• Company PIN certificate
• National ID (for Kenyan citizens)/Passport (for foreigners) for all directors (plus ultimate beneficiary owners if company is owned by other companies) and signatories/known agents
• 1 passport-size photo each for all the signatories and directors/known agents
• Board resolution specifying the signing powers on the company letter head sealed with the company seal
• Signed Absa account opening pack (sealed )
• Residential address confirmation (name estate, road and house number) for all directors and signatories (use the attached format)
• Company physical address confirmation (can be found in the new PIN certificates)
• Annual returns (for companies registered over one year ago)
• Revenue stamp – KES100
• T&C Link

Example Representative Pricing

• Loan Amount: ksh100,000
• Annual Interest Rate: 14.5%
• Processing Fee: ksh3000
• Excise Duty: ksh600
• Loan duration: 12 months
• Estimated Monthly repayment: ksh9,332
  
• Estimated Total repayment amount: ksh111,984

This product is provided by Absa Bank Kenya Plc. Absa Bank Kenya Plc is a Commercial Bank licensed under the Banking Act Cap 488 of the Laws of Kenya and regulated by the Central Bank of Kenya.