Ngao Credit Auto Logbook 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.

Ngao Credit

Auto Logbook Loan
Ksh100k - 5M (60% of vehicle)
3 months - 2 years
Total Cost
3.58% - 7.5% per month + ksh6,000 upfront fees
Typically approved within 6 Hours
visit website

Total Cost Breakdown (Loan Fees):

  • Monthly Interest: 3.5%
  • Processing Fee: 2%
  • Credit Insurance: 0.19% of Principal * duration

Additional Third-Party Fees:

Pre-approval Upfront Fees:

  • Valuation:ksh3,000
  • NTSA Logbook Search: ksh3000

Other Fees:

  • NTSA Logbook In-charge+ Discharge: ksh3,675
  • Car Tracker: ksh4,000
  • Monthly Tracker fee: ksh2,000

Loan structure

  • Type: Secured
  • Interest structure: Flat rate

Loan  Details

  • CRB status not Checked
  • % Financed: Up to 60% of FSV
  • Year of Manufacture cut-off: 2005
  • Minimum tenure: 3 Months
  • Max tenure: 18 Months
  • Minimum Amount: ksh100,000
  • Max amount: ksh5,000,000
  • Repayment Frequency: Monthly
  • Early repayment: Allowed, not charged


  • Original Logbook
  • 6 Months Bank Statements
  • KRA Pin
  • National ID
  • Post dated cheques for the duration of the loan

Representative Example of Loan Costs:

  • Example Loan Amount: ksh100,000
  • Example Loan Tenure: 12 months
  • Representative APR: 42%
  • Total Third-Party Fees (See Cost Breakdown): ksh13,675
  • Total Loan Repayment Amount: ksh142,000
  • Monthly Loan Repayments: ksh11,833

This product is provided by Ngao Credit. Ngao Credit is a Non-deposit taking Microfinance institution duly registered under the Companies Act No 17 of 2015.

Money254 Review


  • Quick Loan processing (6hrs)
  • CRB status not checked
  • Up-to 60% of value of car financed


  • Relatively high Third-Party Fees (ksh13,675)

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

Ngao Credit logbook loans are designed for individuals who own vehicles. Ngao offers logbook loans that cover up to 60% of your car's value for vehicles not older than 15 years. As of May 2022, Ngao Credit has branches in Nairobi, Nakuru, Eldoret, Thika, and Mombasa.

Who is Eligible for Ngao Credit Logbook Loan?

Ngao Credit Logbook Loan Security/Collateral

Ngao Credit Logbook Loan Limits and Interest Rates

Total Upfront Fees

Ngao Credit Logbook Loan Interest Structure

Ngao Credit Logbook Loan Interest Structure

How to Apply for Your First Ngao Credit Logbook Loan

How to Make Ngao Credit Logbook Loan Repayments


Download the new Money254 App and don’t miss out on your next opportunity.

Join 1.5M Kenyans using Money254 to find better loans, savings accounts, and money tips today.
Get it on Google Play

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

Stay up to date with your money - download the new Money254 App Today

Get it on Google Play
Download the Money254 app on Google Playstore

Sign up for our newsletter and get weekly money tips to your inbox.

Get updates from the Money254 team on financial news and new Money254 features.