Standard Chartered Bank Kenya Limited Employee Scheme Personal Loan: Product Details & How to Apply

Rates available from as of 1st April 2021
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Standard Chartered Bank Kenya Limited

Employee Scheme Loan
Easy Apply
Amount
Ksh50k - 7M
Duration
6 months - 6 years
Interest Rate
14% annualised
Total Cost Including Institution's Other Fees
17.5% annualised, year one
Typically approved within 5 days
Easy Apply
visit website

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 14.0%

Total Cost Breakdown (Loan Fees):

  • Interest Minimum: 14% per annum
  • Interest Maximum: 14% per annum
  • Processing fee: 2.5% of principal amount (one-off)
  • Insurance Fee: 0.53% of principal amount (one-off)
  • 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: 15000
  • 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

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 Ksh 15000

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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

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