KCB Bank Kenya Limited Personal Unsecured Check Off Loan: Product Details & How to Apply

Rates available from as of 1st April 2021
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KCB Bank Kenya Limited

Personal Unsecured Check Off Loan
Easy Apply
Amount
Ksh10k - 4M
Duration
6 months - 6 years
Interest Rate
13% annualised, year one
Total Cost Including Institution's Other Fees
16.5% annualised, year one
Typically approved within 48 hours
visit website
Easy Apply

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 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

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,
  • KRA Pin
  • 6 Months Bank statement for non KCB Account holders,
  • 3 Pay slips,
  • Application form filled and signed
  • T&C Links

Example Representative Pricing

  • Loan Amount: ksh100,000
  • Annual Interest Rate: 13%
  • Processing Fee: ksh2500
  • Excise Duty: ksh500
  • 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

Money254 Review

Pro:

  • High Maximum loan limit of Up-to 4 Million
  • Long loan tenure of Up-to 6 years
  • Competitive processing fees

Cons:

  • Only available to MOU employees
  • Disbursed amount lower than requested amount (Processing and Insurance fees deducted upfront)

See more Personal Loans available in Kenya on Money254

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How to Apply for KCB Check-Off  Loan, Repayment, Fees, Contacts

The Kenya Commercial Bank (KCB) check-off loan is available to any government employee, or a company that has a memorandum of understanding (MoU) with KCB Bank.

Who Is Eligible For KCB Check-Off Loans?

Loan Limits and Interest Rates

How to Apply for Your KCB Check-Off Loan

KCB Check-Off Loan Repayment

Contacts

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