MyCredit Limited Logbook Loan details

Rates available from as of 1st April 2021
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MyCredit Limited

Logbook Loan
Easy Apply
ksh100k - 10M (Up-to 60% of vehicle)
3 months - 24 months
Interest Rate
5% per month
Total Cost Including Institution's Other Fees
5.23% - 6.83% per month + ksh6,050 additional fees
Typically approved within 24 Hours
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Easy Apply

Loan Type

Logbook Loan

Total  Cost Breakdown (Loan fees)

  • Monthly Interest: 5%
  • Processing Fee: 3%
  • Insurance fee: 2.5%
  • Late fees: 3% of monthly installment

Additional Third-Party Fees:


  • Valuation: ksh3500 small car/5500 big car

Other Fees

  • Disbursement fee: ksh1000
  • Member fee: ksh1000
  • NTSA Logbook Search: ksh550
  • Car Tracker: 2000 per month

Representative Example of Loan Costs:

  • Example Loan Amount: Ksh100,000
  • Example Loan Tenure: 12 months
  • Representative APR: 60%
  • Total Third-Party Fees (See Cost Breakdown above): ksh6,050
  • Total Loan Repayment Amount: Ksh166,050
  • Monthly Loan Repayments: Ksh13,333

Loan structure

  • Type: Secured
  • Interest structure: Flat rate

Loan  Details

  • % Financed: Up to 60% of FSV
  • Age of car: 22 years
  • Minimum tenure: 3 Months
  • Max tenure: 24 Months
  • Minimum Amount: ksh100,000
  • Max amount: ksh10,000,000
  • Repayment Frequency: Monthly


  • Original Logbook
  • 6 months M-pesa Statements
  • 6 Months Bank Statements
  • KRA Pin
  • National ID
  • Passport photo
  • Valuation report

Money254 Review


  • Older cars accepted (Upto 22 Years)


  • All third-party fees paid upfront

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