Total Cost Breakdown (Loan Fees):
- Monthly Interest: 10%
- Processing Fee: 5%
Additional Third Party fees:
Pre-approval Fees:
- Valuation(+logbook In-charge): ksh4500
Other Fees:
- Car Tracker: ksh20k
- Disbursement fee: nil
Loan structure
- Type: Secured
- Interest structure: Reducing balance
Loan Details
- % Financed: Up to 80% of FSV
- Year of Manufacture cut-off: 2005
- Max tenure: 12 Months
- Minimum Amount: ksh50,000
- Max amount: ksh600,000
- Repayment Frequency: Monthly
- Early repayment: Allowed
Documents
- Original logbook
- Original national ID
- KRA PIN
- 2 passport photos
- Comprehensive Insurance cover
Representative Example of Loan Costs:
- Example Loan Amount: Ksh100,000
- Example Loan Tenure: 12 months
- Representative APR: 120%
- Total Third-Party Fees (See Cost Breakdown): Ksh24,500
- Total Loan Repayment Amount: Ksh247,500
- Monthly Loan Repayments: Ksh18,333