Total Loan Cost Breakdown
- Monthly Interest: 3.1%
- Application fees: ksh20,000 for loans below 150K and ksh30,000 for loans above 150k
- Valuation: ksh3000
- Logbook In-charge + Discharge: Free
- Car Tracker: Free
Loan structure
- Type: Secured
- Interest structure: Reducing balance
Loan Details
- % Financed: Up-to 50% of FSV
- Year of Manufacture cut-off: 2010
- Minimum tenure: 3 Months
- Max tenure: 24 Months
- Minimum Amount: ksh100,000
- Max amount: ksh1,500,000
- Repayment Frequency: Monthly
- Early repayment: Allowed, not charged
Documents
- Original Logbook
- 6 months M-pesa or Bank Statements
- KRA Pin
- National ID
- Pay slip if employed
- Business certificate if Self employed
Representative Example of Loan Costs
- Example Loan Amount: Ksh100,000
- Example Loan Tenure: 12 months
- Representative APR: 37.2%
- Application fees: ksh20,000
- Other Fees: ksh9,808
- Total Loan Repayment Amount: Ksh167,008
- Monthly Loan Repayments: ksh13,924
This product is provided by Hakki Africa. Hakki Africa is a Non-deposit taking Microfinance Institution duly registered under the Companies Act No 17 of 2015.
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