Pioneer Credit 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.

Pioneer Credit

Logbook Loan
Amount
Ksh100k - 3M (60% of vehicle)
Duration
6 months - 12 months
Total Cost
5.2% - 5.4% per month + ksh7,550 additional fees
Typically approved within 24 hours
visit website

Total Cost Breakdown (Loan Fees):

  • Monthly Interest: 5%
  • Processing Fee: 2.5%

Additional Third-Party Fees:

Pre-approval Fees:

  • Valuation:ksh3,000

Other Fees:

  • Logbook Search: ksh550
  • NTSA In-charge: ksh2000
  • Car Tracker: ksh2000 per month

Representative Example of Loan Costs:

  • Example Loan Amount: Ksh100,000
  • Example Loan Tenure: 12 months
  • Representative APR: 60%
  • Total Third-Party Fees (See Cost Breakdown): Ksh7,550
  • Total Loan Repayment Amount: Ksh166,200
  • Monthly Loan Repayments: Ksh 13,333

Loan structure

  • Type: Secured
  • Interest structure: Flat rate

Loan  Details

  • % Financed: Up-to 60% of FSV
  • Minimum tenure: 6 Months
  • Max tenure: 12 Months
  • Minimum Amount: ksh100,000
  • Max amount: ksh3,000,000
  • Repayment Frequency: Monthly

Documents

  • Original Logbook
  • 3 months M-pesa Statements
  • 6 Months Bank Statements
  • KRA Pin and copy
  • National ID and copy
  • One passport photo
  • Comprehensive Insurance

Money254 Review

Pros

  • Up-to 60% of car value financing
  • Relatively low third-party fees (ksh7550)

Cons

  • Relatively high monthly interest rate of 5%
  • Car tracking device charged ksh2000 per month for the entire duration of the loan

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

Pioneer Credit logbook loans are designed for individuals who own vehicles. Pioneer Credit offers logbook loans that cover up to 60% of your car's value. As of May 2022, Pioneer Credit has branches in Nairobi, Kisumu, Eldoret, and Kiambu.

Who is Eligible for Pioneer Credit Logbook Loan?

Pioneer Credit Logbook Loan Security/Collateral

Pioneer Credit Logbook Loan Limits and Interest Rates

Total Upfront Fees

Pioneer Credit Logbook Loan Interest Structure

Pioneer Credit Logbook Loan Interest Structure

How to Apply for Your First Pioneer Credit Logbook Loan

How to Make Pioneer Credit Logbook 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

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.