Pioneer Credit Logbook Loan Details

Rates available from as of 1st April 2021
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Pioneer Credit

Logbook Loan
Easy Apply
Ksh100k - 3M (60% of vehicle)
6 months - 12 months
Interest Rate
5% per month
Total Cost Including Institution's Other Fees
5.2% - 5.4% per month + ksh7,550 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: 2.5%

Additional Third-Party Fees:

Pre-approval Fees:

  • Valuation:ksh3,000

Other Fees:

  • Logbook Search: ksh550
  • NTSA In-charge: ksh2000
  • Car Tracker: ksh2000 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): Ksh7,550
  • Total Loan Repayment Amount: Ksh166,200
  • Monthly Loan Repayments: Ksh 13,333

Loan structure

  • Type: Secured
  • Interest structure: Flat rate

Loan  Details

  • % Financed: Up-to 60% of FSV
  • Minimum tenure: 6 Months
  • Max tenure: 12 Months
  • Minimum Amount: ksh100,000
  • Max amount: ksh3,000,000
  • Repayment Frequency: Monthly


  • Original Logbook
  • 3 months M-pesa Statements
  • 6 Months Bank Statements
  • KRA Pin and copy
  • National ID and copy
  • One passport photo
  • Comprehensive Insurance

Money254 Review


  • Up-to 60% of car value financing
  • Relatively low third-party fees (ksh7550)


  • Relatively high monthly interest rate of 5%
  • Car tracking device charged ksh2000 per month for the entire duration of the loan

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