* 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 14.25%

Total Cost Breakdown (Loan Fees):

• Interest Minimum: 13.5%
• Interest Maximum: 14.25%
• Processing fee: 2.5%
• Insurance Fee: 0.53%
• Withdrawal Fee: None
• Late Fees: None
• Other Fees: 20% Excise Duty on 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: Auto-deductions
  

Eligibility Requirement:

• Smartphone: Not required
• CRB: Must be in good standing
• Income: Minimum Net ksh15,000
• Employment: Required
• Network: Not Required
• History: Active account for 6 Months

Documents:

• National ID,
• Certified pay-slips,
• Letter of introduction from  employer,
• Application Form filled and signed
• T&C Links

Example Representative Pricing

• Loan Amount: ksh100,000
• Annual Interest Rate: 14.25%
• 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

Pros:

• Long loan tenure (up to 7 years)
• Mandatory Insurance cover, retrenchment & last expense (.54-.72%  deducted from loan)
• Application can be completed online
     

Cons:

• Application can be Salary transfer required
• Formal employment required
• Minimum gross salary of Ksh15,000