NCBA Loop Personal Unsecured Loan Details

Rates available from as of 1st April 2021
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NCBA Loop

Unsecured Loan
Amount
KES
50000
-
3000000
Duration
6
months
-
36
months
Total Cost
16.1
%
-
16.1
%
annualised, year one
Typically approved within
1
days
visit website

*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  13.0%.

Loan Fees:

  • Interest Minimum: 13%, year one
  • Interest Maximum: 13%, year one
  • Processing fee: 2%
  • Insurance Fee: 0.7%
  • Withdrawal Fee: Ksh 42
  • Late Fees: None
  • Other Fees: 20% Excise Duty on Processing Fee

Disbursement Details:

  • Institution Type: Commercial Bank
  • Application Method: Online
  • Disbursement Method: Loop account

Repayment Details:

  • Repayment Frequency: Monthly
  • Early Repayment: Allowed
  • Repayment Method: Auto-deduction

Eligibility Requirement:

  • Smartphone: Required
  • CRB: Must be in good standing
  • Income: No Minimum
  • Employment: Not required
  • Network: Not Required
  • History: Active Loop Account for 3 Months

Documents:

Money254 Review

Pros:

  • Fast approval time (less than 24 hours)
  • Large loan limit (3m KES)
  • Easy to use app makes applying and tracking your loan straightforward     

Cons:

  • Active Loop account for 3 months to access
  • Withdrawal fee from Loop to Mpesa Ksh 42
  • Initial sign-up requires visiting a Loop store 

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How to Apply for NCBA Loop Loan, App, Repayment, Fees, Contacts

NCBA Loop is a digital banking service by the NCBA Bank. It is available on both Google and Apple stores, with over 500,000 downloads and a 4.7 out of 5 star rating on Google Play.

One can use their loop account to send money to other loop accounts, send money to other bank accounts, and also pay bills like DSTV, electricity, etc. 

Who Is Eligible For NCBA Loop Loans?

NCBA Loop Loan Limits and Interest Rates

How to Register Using the NCBA Loop App

How to Apply for Your First NCBA Loop Loan

How to Withdraw Money from NCBA Loop Account to M-pesa

How to Make NCBA Loop Loan App Repayments

How to Deposit Funds from M-Pesa to NCBA Loop Account

How to Repay the NCA Loop Loan Using the App

NCBA Loop App Loan Fees and Penalties

NCBA Loop Loan App Reviews and Contacts

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