Loan Cost
- Interest: 13%
- Application Fee: 0
- Processing Fee: 2%
- Excise Duty: 20% of processing fee
- Credit Insurance: 0.85%
Loan structure
- Type: Unsecured
- Interest structure: Reducing balance
- Collateral needed: None
Loan Details
- Loan size: Micro/SME
- Minimum tenure: 1 Months
- Max tenure: 3 Years
- Minimum amount: ksh10K
- Maximum amount: ksh5M
- Repayment Frequency: Monthly
Eligibility
- Time in operation: 24 Months
- Banking History: 6 months
Documents
- Business account annual turnover of between KES 500,000 to KES 100 Million.
- Must be a registered business (MSME) in Kenya
- Provide Business registration certificate
- Provide a valid business permit or trade license from the county government.
- Have a tax compliance certificate
- Borrower must have been in operation (viably) for at least 2 years.
- Must be a credit worthy MSME.
- Have a positive CRB listing
- Be compliant with the bank’s Environmental Risk Management Guidelines where applicable
- T&C Link
Example Representative Pricing
- Loan Amount: ksh100,000
- Annual Interest Rate: 13%
- Processing Fee: ksh2000
- Excise Duty: ksh500
- 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