Loan Cost
- Interest: 13%
- Application Fee: 0
- Processing Fee: 3%
- Excise Duty: 20% of processing fees
Loan structure
- Type: Secured
- Interest structure: Reducing Balance
- Security needed: Either; Log book, Title deed, Life insurance policies, shares
Loan Details
- Loan size: SME
- Minimum tenure: 6 Months
- Max tenure: 48 Months
- Minimum Amount: ksh50K
- Max amount: ksh5M
- Repayment Frequency: Monthly
Eligibility
- Time in operation: 12 Months
- Banking History: 6 months
Documents
- National ID
- KRA Pin
- Open Jenga Biashara Account
- 12 months statement for non – National Bank customers
- Coloured Passport photo for new customers
- Business permit and certificates
- Business records
- T&C Link
Example Representative Pricing
- Loan Amount: ksh100,000
- Annual Interest Rate: 13%
- Processing Fee: ksh3000
- Excise Duty: ksh600
- Loan duration: 12 months
- Estimated Monthly repayment: ksh8,932
- Estimated Total repayment amount: ksh107,181
This product is provided by National Bank of Kenya Limited. National Bank of 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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