Loan Cost
- Interest: 5% per loan
- Application Fee: 0
- Processing Fee: 0
- Credit Insurance: ksh100
Loan structure
- Type: Unsecured
- Interest structure: Flat Rate
- Security needed: None
Loan Details
- Loan size: Micro
- Minimum tenure:
- Max tenure: 1 Month
- Minimum Amount: ksh1K
- Max amount: ksh10K
- Repayment Frequency: Daily/weekly
Eligibility
- Time in operation: 6 Months
- Banking History: 14 Days
Documents
- National ID
- KRA Pin
- Coloured Passport photograph
Example Representative Pricing
- Loan Amount: ksh10,000
- Loan Interest Rate: 5%
- Processing Fee: ksh0
- Credit Insurance: ksh100
- Loan duration: 1 month
- Estimated Total repayment amount: ksh10,500
This product is provided by Choice Microfinance Bank Limited. Choice Microfinance Bank Limited is a Deposit-taking Microfinance Bank licensed under the Microfinance Act No. 19 of 2006 and regulated by the Central Bank of Kenya.