Mwananchi Credit Logbook Loan Details

Rates available from as of 1st April 2021
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Mwananchi Credit

Logbook Loan
Ksh100k - 25M (40% - 60% of vehicle)
1 month - 2 years
Total Cost
3.2% - 15% per month + ksh16,500 additional fees
Typically approved within 6 hours
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Total Cost Breakdown (Loan Fees):

  • Monthly Interest: 3%
  • Processing Fee: 5%

Additional Third-Party Fees:

Pre-approval Fees:

  • Valuation: ksh4000
  • CRB Check: ksh500

Other Fees:

  • NTSA Logbook Search: ksh550
  • Logbook In-charge: ksh3000
  • Car Tracker: ksh7,500
  • Legal fees: ksh500
  • Bank disbursement fee: ksh1000

Representative Example of Loan Costs:

  • Example Loan Amount: Ksh100,000
  • Example Loan Tenure: 12 months
  • Representative APR: 36%
  • Total Third-Party Fees (See Cost Breakdown): ksh16,500
  • Total Loan Repayment Amount: ksh152,500
  • Monthly Loan Repayments: ksh11,333

Loan structure

  • Type: Secured
  • Interest structure: Flat Rate

Loan  Details

  • % Financed: Up-to 60% of FSV
  • Minimum tenure: 1 Month
  • Max tenure: 24 Months
  • Minimum Amount: ksh100,000
  • Max amount: ksh25,000,000
  • Repayment Frequency: Monthly


  • Original Logbook
  • KRA Pin of Applicant
  • National ID of Applicant
  • 2 Passport Photos
  • 6 months Bank statements
  • 6 months M-pesa statements
  • Comprehensive Insurance Certificate
  • Cheque book

Money254 Review


  • Quick loan processing (6hours)
  • Access to other credit options like weekend loan


  • Relatively high Third-Party fees (ksh16500)

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