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
- Collateral needed: 2 Guarantors & 10% cash deposit
Loan Details
- Loan size: Micro
- Max tenure: 1 Month
- Minimum Amount: ksh1K
- Max amount: ksh20k
- Repayment Frequency: Weekly
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: ksh10,000
- Loan Interest Rate: 5%
- Processing Fee: ksh400
- Excise Duty: ksh80
- Credit Insurance: ksh150
- Loan duration: 1 month
- Estimated Total repayment amount: ksh10,500
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.