Platinum 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.

Platinum Credit Limited

Logbook Loan
ksh70K - 2.5M (Up-to 60% of vehicle)
3 months - 2 years
Total Cost
4.19% - 5.46% per month + Ksh600 Upfront fees
Typically approved within 24 hours
visit website

Total Cost Breakdown (Loan Fees)

  • Monthly Interest: 4%
  • Processing Fee: 4%
  • Credit Life insurance: 0.37% - 0.5% of Principal
  • Monthly Tracker fee: ksh1,700
Pre-Approval upfront fees:
  • Logbook Search: Ksh600

Additional Third-Party fees

  • Valuation: ksh2,700 - ksh4,200
  • NTSA In-charge: ksh1,175
  • Logbook Discharge: ksh1,175
  • Car Tracker installation: ksh5,000
  • Chattel Registration: ksh1,050
  • Post Logbook Search fee: ksh750
  • Car tracker Monthly fee: ksh1,700

Loan structure

  • Type: Secured
  • Interest structure: Flat rate

Loan  Details

  • % of car Financed: Up to 60% of FSV
  • Year of Manufacture cut-off: 2000
  • Minimum tenure: 3 Months
  • Max tenure: 24 Months
  • Minimum Amount: ksh70,000
  • Max amount: ksh2,500,000
  • Repayment Frequency: Monthly
  • Early Repayment: Allowed, and not charged.
  • Late fees: 0.33% daily (of the installment balance)


  • Original Logbook
  • 6 months M-pesa Statements
  • 6 Months Bank Statements
  • KRA Pin
  • National ID
  • Passport photo

Representative Example of Loan Costs:

  • Example Loan Amount: Ksh100,000
  • Example Loan Tenure: 12 months
  • Representative APR:68%
  • Total Third-Party Fees (See Cost Breakdown):
  • Total Loan Repayment Amount: Ksh168,396
  • Monthly Loan Repayments: Ksh14,033

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

Money254 Review


  • Flexibility: There is an Option of having the fees deducted from the disbursed loan or capitalized(added) onto the loan. When added onto the Loan, the principal balance is higher.
  • Low Upfront fees: Mandatory upfront fee is ksh600. Valuation fee can be deducted from Disbursed Loan amount if you sign a consent form.
  • Vehicles of Up-to 22 years are eligible for financing.(YoM 2000)


  • Total cost: Relatively high-interest rate of 4% per month.

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

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.