Loan Cost
- Interest: 13%
- Application Fee: 0
- Processing Fee: 3%
- Excise duty: 20% of processing fee
- Credit Insurance: 0.85%
Loan structure
- Type: Secured
- Interest structure: Reducing balance
- Security needed: Log book(car should be less than 8 years old), stock
Loan Details
- Loan size: SME
- Minimum tenure: 6 Months
- Max tenure: 5 Years
- Minimum Amount: ksh1M
- Max amount: ksh5M
- Repayment Frequency: Monthly
Eligibility
- Time in operation: 12 Months
- Banking History: 9 months
Documents
- National ID
- KRA Pin
- 6 Months Bank statement
- Business records
- T&C Link
Example Representative Pricing
- Loan Amount: ksh100,000
- Annual Interest Rate: 13%
- Processing Fee: ksh3000
- Excise Duty: ksh600
- Credit insurance: ksh850
- Loan duration: 12 months
- Estimated Monthly repayment: ksh8,932
- Estimated Total repayment amount: ksh110,721
This product is provided by KCB Bank Kenya Limited. KCB Bank Kenya 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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