Business Loans

KCB Bank Kenya Limited Soko Loan Details

Rates available from as of 1st April 2021
Money254 strives to provide relevant and accurate product information, which Money254 obtains directly from each institution’s tariff guide. If you believe a product’s details are incorrect, please report the product to Money254.

KCB Bank Kenya Limited

Soko Loan
Amount
Ksh10k - 100k
Duration
1 Month - 12 Months
Total Cost
17.45% annualized (year 1)
Business Permit Required
visit website

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: 3 Guarantors

Loan  Details‍

  • Loan size: Micro/SME
  • Minimum tenure: 1 Months
  • Max tenure: 12 Months
  • Minimum amount: ksh10K
  • Max amount: ksh100k
  • Repayment Frequency: Monthly

Eligibility‍

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

Documents

  • National ID
  • KRA Pin
  • 6 Months Bank Statement
  • Letter from Market board
  • 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

Money254 Review

Pros

  • ‍‍Available to businesses without formal registration
  • Available to micro businesses‍

Cons‍

  • Requires 3 guarantors


Use Money254's free search to view the best Business Loans available in Kenya today

We have aggregated all of the Business Loans from Kenya's top financial institutions.
See all Business Loans

How to Apply KCB Bank Kenya Soko Loan, Structure, Repayment, Fees & Contacts

KCB Bank Kenya Soko loan is designed for business people to help them to propel their businesses forward.

Who is Eligible for KCB Bank Kenya Soko Loan?

 KCB Bank Kenya Soko Loan Security/Collateral

‍ KCB Bank Kenya Soko Loan limits and Interest rates‍

Other Fees

KCB Bank Kenya Soko Loan Interest Structure

KCB Bank Kenya Soko Loan Interest Structure

How to Make KCB Bank Kenya Soko Loan Repayments

Contacts

What is Money254?

Money254 is a new platform focused on helping you make more out of the money you have. We’ve created a simple, fast and secure way to find and compare financial products that best match your needs. All of the information shown is from products available at established financial institutions that our team of experts have tirelessly collected.  
‍

We’ve just launched but will be adding more product categories and tools over the coming months.

Sign-up to our newsletter and social channels to stay up-to-date!
Learn more about Money254

Learn more about business loans with these recent articles from the Money254 blog:

What to Do If You Get Conned, Scammed, or Defrauded in Kenya
Money Management

What to Do If You Get Conned, Scammed, or Defrauded in Kenya

October 3, 2022
How to Enjoy a Debt-Free Life in Your 20s
Money Management

How to Enjoy a Debt-Free Life in Your 20s

October 3, 2022
5 Financial Habits of Kenyans Who Own a Home Before Age 35
Money Management

5 Financial Habits of Kenyans Who Own a Home Before Age 35

October 3, 2022
Full-time Employed? 10 Simple Ideas to Make Money on Weekends 
Money Management

Full-time Employed? 10 Simple Ideas to Make Money on Weekends 

October 3, 2022

Stay up to date with your money - sign up for our newsletter today.

Get updates from the Money254 team on financial news and new Money254 features.
Thank you! Your submission has been received!
Oops! Something went wrong while submitting the form.
About
CompanyTerms of UsePrivacy Policy
Contact Us
Products
Personal LoansBusiness LoansAuto LoansLogbook LoansSavings AccountsCurrent AccountsCredit Cards

Disclaimer: The information that Money254 provides on this website is obtained from publicly available resources and is intended for information or educational purposes only. Money254 strives to keep the information on the website up to date and does not warranty that all the information will be as the financial institutions updated or changed information at all times. Money254 does not own any of the information provided by or obtained from third party financial institutions. Take note that the institutions represented on this website may vary their terms at any time or may offer you terms different to what you have seen on the website due to their own analysis of your individual circumstances or change of terms and you are encouraged to review the specific financial institution’s terms and conditions when obtaining their services or products. Money254 is not a financial institution, insurance provider or financial adviser and is not liable for any decisions any individual makes based on the information provided on the website.  Please refer to our terms and conditions and privacy policy before using this website.