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

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Family Bank Limited
Check-off Loan
Loan Amount
Ksh50k - 3M
Loan Period
6 months - 6 years
Interest Rate
13% annualised
Total Cost
(incl fees)
17% annualised, year one
Product Details
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*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 13.5%.*


Total Cost Breakdown (Loan Fees):

  • Interest Minimum: 13.5%
  • Interest Maximum: 13.5%
  • 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

Example Representative Pricing

  • Loan Amount: ksh100,000
  • Annual Interest Rate: 13.5%
  • Processing Fee: ksh3000
  • Excise Duty: ksh600
  • Credit insurance: ksh500
  • Loan duration: 12 months
  • Estimated Monthly repayment: ksh8,932
  • Estimated Total repayment amount: ksh107,181

This product is provided by Family Bank Limited. Family 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.

How to Apply

Our Review
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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

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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.

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