NCBA Kenya PLC Personal Unsecured Loan Details

Rates available from as of 1st April 2021
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NCBA Kenya PLC

Personal Unsecured Loan
Amount
KES
100000
-
4000000
Duration
6
months
-
6
months
Total Cost
14
%
-
22
%
annualised, year one
Typically approved within
5
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 between 13.0% - 13.7%.

Loan Fees:

  • Interest Minimum: 13%
  • Interest Maximum: 13%
  • Processing fee: 7000
  • Insurance Fee: 0.7%
  • Withdrawal Fee: None
  • Late Fees: 30% per annum
  • 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/ Auto-deductions

       

Eligibility Requirement:

  • Smartphone: not Required
  • CRB: Must be in good standing
  • Income: No minimum
  • Employment: Required
  • Network: Not Required
  • History: Active Account for 3 months
  • Documents: Certified Pay-slips, National ID, Application form filled and signed, 6 months bank statement( for non account holders)
  • T&C Links

Money254 Review

Pros:

  • Long loan tenure (up to 6 years)
  • High max loan limit (up to 4 million, subject to T&Cs)
       

Cons:

  • 30% p.a late fees
  • Formal employment required
  • Amount disbursed lower than requested amount (fees deducted upfront)

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