Ngao Credit Auto Logbook Loan Details

Rates available from as of 1st April 2021
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Ngao Credit

Auto Logbook Loan
Easy Apply
Ksh100k - 5M (60% of vehicle)
3 months - 2 years
Interest Rate
3.5% per month
Total Cost Including Institution's Other Fees
3.6% - 12% per month + ksh13,000 additional fees
Typically approved within 6 Hours
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Easy Apply

Loan Type

Logbook Loan

Total Cost Breakdown (Loan Fees):

  • Monthly Interest Tiers:

         *1 month: 10%
          *2 - 5 Months: 5.5%
          *6-12 months: 5%
          *13-24 months: 3.5%

  • Processing Fee: 2%
  • Chattel Registration: ksh3,000
  • Late fees: 6.5% of monthly installment

Pre-Approval Upfront fees:

  • Valuation: ksh3,000
  • NTSA Search: ksh3,000

Additional Third-Party Fees:

  • NTSA Logbook In-charge: ksh3,000
  • Car Tracker: ksh4,000

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): Ksh13,000
  • Total Loan Repayment Amount: Ksh186,000
  • Monthly Loan Repayments: Ksh15,500

Loan structure

  • Type: Secured
  • Interest structure: Flat rate

Loan  Details

  • CRB status not Checked
  • % Financed: Up to 60% of FSV
  • Minimum tenure: 3 Months
  • Max tenure: 18 Months
  • Minimum Amount: ksh100,000
  • Max amount: ksh5,000,000
  • Repayment Frequency: Monthly


  • Original Logbook
  • 6 Months Bank Statements
  • KRA Pin
  • National ID
  • Post dated cheques for the duration of the loan

Money254 Review


  • CRB status not checked


  • Relatively high Third-Party Fees (ksh13,000)

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