Business Loans

Sidian Bank Limited Micro Finance Individual Loan Details

Rates available from as of 1st April 2021
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Sidian Bank Limited

Micro Finance Individual Loan
Amount
Ksh300k - 3M
Duration
3 Months - 24 Months
Total Cost
18.1% annualized (year 1)
Business Permit Required
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Loan Cost

  • ‍‍Interest: 13%
  • Application Fee: 0
  • Processing Fee: 3%
  • Excise Duty: 20% of processing fee
  • Chattel Registration: ksh1000

Loan structure‍

  • Type: Secured
  • Interest structure: Reducing Balance
  • Collateral needed: Either; Log books, Title deeds, shares or 10% Cash Collateral

Loan  Details‍

  • Loan size: SME
  • Minimum tenure: 3 Months
  • Max tenure: 24 Months
  • Minimum amount: ksh300K
  • Max amount: ksh3M
  • Repayment Frequency: Weekly/Monthly

Eligibility‍

  • Time in operation: 24 Months
  • Banking History: 6 months

Documents‍

  • KRA Pin
  • National ID
  • 12 Months bank statement
  • 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 Sidian Bank Limited. Sidian Bank 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

Money254 Review

Pros

  • ‍‍Available to businesses without formal registration
  • Flexible repayment installments‍

Cons‍

  • Requires the business to be operational for at least  2 years
  • Requires security
  • Chattel registration charged ksh1000


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How to Apply Sidian Bank Limited Micro-finance Individual Loan, Structure, Repayment, Fees & Contacts

Sidian Bank Limited gives Microfinance individual loans to individuals/people running a micro business and needs working capital to boost their businesses

Who is Eligible for Sidian Bank Limited Micro-finance Individual Loan?

Sidian Bank Limited Micro-finance Individual Loan Security/Collateral

Sidian Bank Limited Micro-finance Individual Loan limits and Interest rates

Other Fees

Sidian Bank Limited Micro-finance Individual Loan Interest Structure

Sidian Bank Limited Micro-finance Individual Loan Interest Structure

How to Make Sidian Bank Limited Micro-finance Individual Loan

Contacts

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