* Processing Fees and Excise duty are only applied to year one. For loans longer than one year, your annual cost from year two onwards will be 15.5%

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Total Cost Breakdown (Loan Fees):

• ‍‍Interest Minimum: 15.5%
• Interest Maximum: 15.5%
• Processing fee: 3.3%
• Insurance Fee: 0.66%
• Withdrawal Fee: None
• Late Fees: None
• Other Fees: 100 monthly loan processing fee, 20% Excise Duty
  

Disbursement Details:

• ‍‍Institution Type: Commercial Bank
• Application Method: Paperwork
• Disbursement Method: Bank account‍

Repayment Details:

• ‍‍Repayment Frequency: Monthly
• Early Repayment: Allowed
• Repayment Method: Auto-Deductions
  

Eligibility Requirement:

• ‍‍Smartphone: Not Required
• CRB: Must be in good standing
• Income: 15000
• Employment: Required
• Network: Not required
• History: An Active Account for 3 Months

Documents:

• National ID,
• Certified Pay-slips,
• KRA Pin,
• 6 Months Bank statements,
• Passport Photo
• T&C Links

Example Representative Pricing

• Loan Amount: ksh100,000
• Annual Interest Rate: 15%
• Processing Fee: ksh3,300
• Excise Duty: ksh660
• Credit insurance: ksh660
• Loan duration: 12 months
• Estimated Monthly repayment: ksh9,332
  
• Estimated Total repayment amount: ksh111,984

This product is provided by Absa Bank Kenya Plc. Absa Bank Kenya Plc is a Commercial Bank licensed under the Banking Act Cap 488 of the Laws of Kenya and regulated by the Central Bank of Kenya

How to Apply

Pros:

• High loan limit Up-to 6 million (subject to debt Ratio)
• Available to both employed and self-employed
• Long loan tenure of Up-to 6 years
   

Cons:

• Must have a minimum net salary 15000
• Must have an Active salary account for 3 months to access
• Monthly loan processing fee of Up-to Ksh 100