Standard Chartered Bank Kenya Limited Unsecured Non Check off Personal Loan: Product Details & How to Apply

Rates available from as of 1st April 2021
Customise your results to find loans you're eligible for by answering 5 more questions
Customize Results
Money254 strives to provide relevant and accurate product information, which Money254 obtains directly from each institution’s tariff guide. If you believe a product’s details are incorrect, please report the product to Money254.

Standard Chartered Bank Kenya Limited

Unsecured Non Checkoff Loan
Easy Apply
Amount
Ksh100k - 7M
Duration
6 months - 6 years
Interest Rate
15.25% annualised
Total Cost Including Institution's Other Fees
18.78% annualised, year one
Typically approved within 5 days
visit website
Easy Apply

Loan Type

Check Off Loans

* 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 15.25%

Total Cost Breakdown (Loan Fees):

  • Interest Minimum: 13.5% per annum
  • Interest Maximum: 15.25% per annum
  • Processing fee: 2.5% of principal
  • Insurance Fee: 0.53% of principal
  • Withdrawal Fee: None
  • Late Fees: None
  • Other Fees: 20% Excise Duty of Processing Fee

Disbursement Details:

  • Institution Type: Commercial Bank
  • Application Method: Online/Paperwork
  • Disbursement Method: Bank Account

Repayment Details:

  • Repayment Frequency: Monthly
  • Early Repayment: Allowed
  • Repayment Method: Check-Off

Eligibility Requirement:

  • Smartphone: Not Required
  • CRB: Must be in good standing
  • Income: ksh40,000
  • Employment: Required
  • Network: Not Required
  • History: Not Required

Documents :

  • Certified pay slips
  • Letter from Employer
  • 6 months bank statement
  • National ID
  • KRA Pin
  • T&C Links

Example Representative Pricing

  • Loan Amount: ksh100,000
  • Annual Interest Rate: 15.25%
  • Processing Fee: ksh2500
  • Excise Duty: ksh500
  • Credit insurance: ksh530
  • Loan duration: 12 months
  • Estimated Monthly repayment: ksh8,990
  • Estimated Total repayment amount: ksh111,416

This product is provided by Standard Chartered Bank Kenya Limited. Standard Chartered Bank Kenya Limited is a Commercial Bank licensed under the Banking Act Cap 488 of the Laws of Kenya and regulated by the Central Bank of Kenya.

How to Apply

Money254 Review

Pros:

  • Long loan tenure
  • High Loan limit (Up to 7 Million)
  • Application can be done online

Cons:

  • Salary transfer required
  • Formal employment required
  • Minimum gross salary of Ksh40000

See more Personal Loans available in Kenya on Money254

From short-term app loans to long-term bank loans, we have aggregated all of the unsecured Personal Loans from Kenya's top financial institutions.

See All Personal Loans

How to Apply For Standard Chartered Bank Employee Scheme loan, Repayment, Fees & Contacts

The Standard Chartered Bank employee scheme loan offers personal loans to employees of a company that has an agreement with Standard Chartered Bank. The repayments are usually made directly from their salary. It is a loan that is specifically made to meet personal expenses.

Who is eligible for Standard Chartered Employee Scheme loan?

Standard Chartered Employee Scheme Loan Limits and Interest

How to Apply for Your First Standard Chartered Bank Employee Scheme Loan

How to Make Standard Chartered Bank Employee Scheme Loan Repayments

Contacts

Download the new Money254 App and don’t miss out on your next opportunity.

Join 1.5M Kenyans using Money254 to find better loans, savings accounts, and money tips today.
Get it on Google Play

Welcome to Money254!

Money 254 is a new platform focused on helping you make more out of the money you have. We've created a simple, fast and secure way to find and compare financial products that best match your needs. All of the information shown is from products available at established financial institutions that our team of experts has tirelessly collected. Instantly search loan products from established providers in Kenya and compare on the terms that matter most to you.

Explore All Products On Money254

Stay up to date with your money - download the new Money254 App Today

Get it on Google Play

Sign up for our newsletter and get weekly money tips to your inbox.

Get updates from the Money254 team on financial news and new Money254 features.
Thank you! Your submission has been received!
Oops! Something went wrong while submitting the form.