Loan Cost
- Interest: 5% p.m
- Application Fee: 0
- Processing Fee: 4%
- Excise Duty: 20% of processing fee
- Credit Insurance: 1.5%
Loan structure
- Type: Secured
- Interest structure: Reducing Balance
- Security needed: 2 Guarantors & 10% Cash Collateral
Loan Details
- Loan size: Micro/SME
- Minimum tenure: 3 Months
- Max tenure: 12 Months
- Minimum Amount: ksh5K
- Max amount: ksh200K
- Repayment Frequency: Weekly/Monthly
Eligibility
- Time in operation: 6 Months
- Banking History: 3 Months
Documents
- National ID card
- Business has running for at least 6 months,
- KRA PIN certificate
- Photograph (for first loans only
Example Representative Pricing
- Loan Amount: ksh100,000
- Annual Interest Rate: 60%
- Processing Fee: ksh4000
- Excise Duty: ksh800
- Credit Insurance: ksh1,500
- Loan duration: 12 months
- Estimated Monthly repayment: ksh11,282.54
- Estimated Total repayment amount: ksh135,390.49
This product is provided by Branch Microfinance Bank. Branch Microfinance Bank is a Deposit-taking Microfinance Bank licensed under the Microfinance Act No. 19 of 2006 and regulated by the Central Bank of Kenya.
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