Personal Loans

Family Bank Limited Check Off Personal Loan: Product Details & How to Apply

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

Check-off Loan
Easy Apply
Amount
Ksh50k - 3M
Duration
6 months - 6 years
Interest Rate
13% annualised
Total Cost Including Institution's Other Fees
17% annualised, year one
Typically approved within 48 hours
Easy Apply
visit website

Loan Type

Check Off 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 between 13.0% - 13.5%.*

‍
Total Cost Breakdown (Loan Fees):

  • ‍‍Interest Minimum: 13%
  • Interest Maximum: 13%
  • Processing fee: 3%
  • Insurance Fee: 0.5%
  • Withdrawal Fee: None
  • Late Fees: None
  • Other Fees: 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: Check-Off‍

Eligibility Requirement:

  • ‍Smartphone: Not Required
  • CRB: Must be in good standing
  • Income: No minimum
  • Employment: Required
  • Network: Not required
  • History: Not required

Documents:

  • National ID
  • 3 Pay-slips
  • KRA Pin
  • Application form  filled and signed
  • 3 months salary account bank statement for non account holders
  • T&C Links

How to Apply

‍

Money254 Review

Pros:

  • Repayments automated via employer (Check-off)
  • High maximum loan limit of up-to 3 million
  • Salary transfer not required

Cons:

  • Maximum Age limit of 52 years
  • Employers must have MOU with Bank








 

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How to Apply Family Bank Kenya Check-Off Loan,  Repayment, Fees, Contacts

The Family Bank check-off loans are available to all employees whose employers have signed a memorandum of understanding (MoU) with Family Bank to process loan facilities. Monthly instalments are paid directly to the bank.

Who Is Eligible For Family Bank Kenya Check-Off Loans?

Family Bank Check-Off Loan Limits and Interest Rates

How to Apply For Family Bank Kenya Check-Off Loan

Family Bank Kenya Check-Off Loan Repayment

Fees and Penalties

Contacts

Learn more about Personal Loans available in Kenya on Money254

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