Personal Loans

ABSA Bank Kenya Plc Unsecured Personal Loan Non Check Off: Product Details & How to Apply

Rates available from as of 1st April 2021
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ABSA Bank Kenya Plc

Unsecured Loan Non Check Off
Easy Apply
Amount
Ksh50k - 6M
Duration
1 year - 6 years
Interest Rate
14.5% - 15% annualised
Total Cost Including Institution's Other Fees
19.12% - 19.60% annualised, year one
Requires at least 3 months active account history
Easy Apply
visit website

Loan Type

Unsecured Loans

* 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 14.5% - 15%

‍
Total Cost Breakdown (Loan Fees):

  • ‍‍Interest Minimum: 14.5%
  • Interest Maximum: 15%
  • 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

How to Apply

 

Money254 Review

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

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How to Apply for Absa Bank Kenya PLC Non Check-Off Loan, Repayment, Fees, Contacts

The Absa Bank PLC non check-off loans are available to both salaried and self-employed individuals. Neither security nor collateral is required.

Your salary determines the amount you qualify for. 

Who Is Eligible For Absa Bank Kenya PLC Non Check-Off Loans?

Loan Limits and Interest Rates

How to Apply for Absa Bank Kenya PLC Non Check-Off Loan

Absa Bank Kenya PLC Non Check-Off Loan Repayment

Contacts

Learn more about Personal Loans available in Kenya on Money254

Money 254 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 has tirelessly collected. Instantly search loan products from established providers in Kenya and compare on the terms that matter most to you.

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