* 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 13.54%

Total Cost Breakdown (Loan Fees):

• Interest Minimum: 13%
• Interest Maximum: 13%
• Processing fee: 2.5%
• Insurance Fee: 0.54%
• Withdrawal Fee: None
• Late Fees: None
• Other Fees: 20% Excise Duty on Processing fee

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: No minimum
• Employment: Not Required
• Network: Not required
• History: Active account for 3 months

Documents:

• Proof of income,
• National ID,
• 3 pay-slips,
• KRA Pin,
• Application Form filled and signed
• T&C Links

Example Representative Pricing

• Loan Amount: ksh100,000
• Annual Interest Rate: 13%
• Processing Fee: ksh3000
• Excise Duty: ksh600
• Credit insurance: ksh850
• Loan duration: 12 months
• Estimated Monthly repayment: ksh8,932
  
• Estimated Total repayment amount: ksh110,721

This product is provided by KCB Bank Kenya Limited. KCB Bank Kenya 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

Pros:

• Available to self-employed with regular income
• Competitive Processing fee (2.5%)
• High maximum Loan limit (up to 4 million)

Cons:

• Must have an active account for 3 months
• Strictly an education loan