Faulu Microfinance Bank Limited Faulu Micro Loan Details

Rates available from as of 1st April 2021
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Faulu Microfinance Bank Limited

Faulu Micro Loan
Amount
Ksh5k - 500k
Duration
6 Months - 18 Months
Total Cost
36.71% annualized (year 1)
Business Permit Required
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Loan Cost

  • Interest: 32.51%
  • Application Fee: 0
  • Processing Fee: 3%
  • Excise Duty: 20% of processing fee

Loan structure

  • Type: Unsecured
  • Interest structure: Reducing balance
  • Security needed: None

Loan  Details

  • Loan size: Micro/SME
  • Minimum tenure: 6 Months
  • Max tenure: 18 Months
  • Minimum amount: ksh5K
  • Max amount: ksh500K
  • Repayment Frequency: Monthly

Eligibility

  • Time in operation: 12 Months
  • Banking History: 6 Months

Documents

  • National ID
  • KRA Pin
  • Coloured Passport photograph
  • Open a Hazina account with the bank
  • T&C Link

Example Representative Pricing

  • Loan Amount: ksh100,000
  • Annual Interest Rate: 32.51%
  • Processing Fee: ksh3000
  • Excise Duty: ksh600
  • Loan duration: 12 months
  • Estimated Monthly repayment: ksh9,872.59
  • Estimated Total repayment amount: ksh118,373

Money254 Review

Pros

  • Available to businesses without formal registration
  • Available to both micro and MSMEs

Cons

  • Requires business to be in operation for 12 months


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How to Apply Faulu Microfinance Bank Micro Unsecured Loan, Structure, Repayment, Fees & Contacts

Faulu Microfinance Bank Micro Secured loan is a loan given to business people in need of cash to boost their Biashara or finance LPOs, boost supplies to meet demands, and, business emergencies.

Who is Eligible for Faulu Microfinance Bank Micro Unsecured Loan?

Faulu Microfinance Bank Micro Unsecured Loan Security/Collateral

Faulu Microfinance Bank Micro Unsecured Loan limits and Interest rates

Other Fees

Faulu Microfinance Bank Micro Unsecured Loan Interest Structure

Faulu Microfinance Bank Micro Unsecured Loan Interest Structure

How to Make Faulu Microfinance Bank Micro Unsecured Loan Repayments

Contacts

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