Loan Cost
- Interest: 18% - 20%
- Application Fee: 0
- Processing Fee: 2%
- Excise Duty: 20% of processing fee
Loan structure
- Type: Secured
- Interest structure: Flat Rate
- Security needed: Title deed, log book
Loan Details
- Loan size: SME
- Minimum tenure: 1 Month
- Max tenure: 24 Months
- Minimum Amount: ksh100K
- Max amount: ksh2M
- Repayment Frequency: Monthly
Eligibility
- Time in operation: 6 Months
Documents
- National ID
- KRA Certificate
- Business records & Permits
- 6 Bank statements
- Security/Collateral
- Passport pictures
- T&C Link
Example Representative Pricing
- Loan Amount: ksh100,000
- Annual Interest Rate: 20%
- Processing Fee: ksh2000
- Excise Duty: ksh400
- Loan duration: 12 months
- Estimated Monthly repayment: ksh9,263.45
- Estimated Total repayment amount: ksh111,161.41
This product is provided by Maisha Microfinance Bank. Maisha Microfinance Bank is a Deposit-taking Microfinance Bank licensed under the Microfinance Act No. 19 of 2006 and regulated by the Central Bank of Kenya.
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