Loan Cost
- Interest: 13.5%
- Application Fee: 0
- Processing Fee: 3%
- Excise Duty: 20% of processing fee
Loan structure
- Type: Secured
- Interest structure: Reducing Balance
- Collateral needed: Either; Log book, Business stock or Title deed
Loan Details
- Loan size: Micro/SME
- Minimum tenure: 1 Months
- Max tenure: 3 Years
- Minimum amount: ksh5K
- Max amount: ksh5M
- Repayment Frequency: Weekly/Monthly
Eligibility
- Time in operation: 12 Months
- Banking History: 6 months
Documents
- KRA Pin
- National ID
- 12 Months bank statement
- Business records
- T&C Link
Example Representative Pricing
- Loan Amount: ksh100,000
- Annual Interest Rate: 13.5%
- Processing Fee: ksh3000
- Excise Duty: ksh600
- Loan duration: 12 months
- Estimated Monthly repayment: ksh8,955
- Estimated Total repayment amount: ksh107,462
This product is provided by Family Bank Limited. Family Bank Limited is a Commercial Bank licensed under the Banking Act Cap 488 of the Laws of Kenya and regulated by the Central Bank of Kenya.
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