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Izwe Logbook Loan: Access Ksh50K to Ksh20 Million With Your Car as Security
Izwe Logbook Loan: Access Ksh50K to Ksh20 Million With Your Car as Security
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Izwe Logbook Loan: Access Ksh50K to Ksh20 Million With Your Car as Security

Tony Mukere
July 18, 2023

Are you in need of a fast logbook loan to handle urgent situations like medical expenses, school fees, or promising business ventures? Look no further.

You can now apply for the Izwe Logbook Loan on, Kenya's leading financial comparison platform.

Here is a comprehensive overview of the Izwe Logbook Loan, provided by Izwe - a registered microfinance institution in Kenya.


To qualify for the Izwe logbook loan, the first requirement is to own a car that is not older than 15 years. As of 2023, the vehicle’s year of manufacture must be from 2008 onwards. 

One of the outstanding features of the Izwe Logbook Loan is that you are able to use your car as collateral to support a close family member who requires a loan but does not possess a logbook.

For instance, if you have confidence in the repayment capability of your parent, spouse, daughter, or son, you can guarantee their loan using your own car. Similarly, if you are unable to meet the eligibility criteria, lack a car, or your vehicle's value is insufficient to secure the desired loan amount, your family member can utilise their car as collateral to guarantee your loan.

It is important to understand that by guaranteeing someone else's logbook loan with your car, you assume responsibility for the loan. In the event that the borrower defaults, your vehicle may be repossessed to settle the outstanding balance.

Likewise, if you intend to utilize someone else's car as collateral for a logbook loan, the car owner must provide written consent to the lender, acknowledging their understanding of the implications associated with this guarantee.

Further, with the Izwe Logbook Loan, you have the option to utilise multiple logbooks if the vehicle you own does not qualify for the desired loan amount.

Important to note that the car must have comprehensive insurance throughout the logbook loan term. If you are unable to raise money for comprehensive insurance, Izwe offers you the option of taking Insurance Premium Financing (IPF) where they pay for the comprehensive insurance and add it to your loan. 

Required documents:

For individuals:

  • Proof of ownership (Original Logbook)
  • Two original passport sized photos of yourself
  • Six months’ bank statements (primary income account or Mpesa account if applicable)

For businesses, on top of the listed documents, a physical visit is required to confirm the existence and ability to repay. 

Izwe Logbook Loan Limits

The Izwe Logbook Loan is available starting from a minimum loan amount of Ksh50,000, with a maximum limit of Ksh20 million. This maximum loan limit is one of the highest among logbook loan providers in this category.

The loan amount granted is determined based on a percentage of the vehicle's value, with a maximum borrowing limit set at 75% of the forced sale value of the car, which is determined by an independent valuer.

The forced sale value refers to the amount the vehicle could reasonably fetch in a quick sale scenario, where there may not be enough time for extensive marketing. For example, if your Toyota Vitz has a market value of Ksh700,000, the forced sale value could be determined by a professional valuer to be Ksh600,000.

Loan Tenure:

The Izwe Logbook Loan allows for a minimum repayment period of 1 month and a maximum repayment period of 18 months.

Cost of the Izwe Logbook Loan

Interest rate: The Izwe Logbook Loan is provided at a monthly interest rate of 3.5%.

Processing Fee: To obtain an Izwe Logbook Loan, a processing fee of 4% of the loan value is required. This fee is a one-time payment.

Upfront Fees: The only upfront fee for the Izwe Logbook Loan is Ksh3,600, charged for the valuation of your car. There are no other mandatory upfront fees involved.

Other Third Party Fees

  • Legal fees: Ksh1,000 (one-time payment)
  • Car tracker: Ksh1,800 per month
  • NTSA in-charge: Ksh1,100 (one-time payment)
  • Discharge: Ksh1,175 (paid at the end of your loan)

With the Izwe Logbook Loan, instead of having to pay these amounts out of pocket, they are incorporated into the loan amount you are borrowing. In other words, the capitalised fees are added to your loan total.

For instance, if you are taking a Ksh200,000 loan, you will receive the full amount of Ksh200,000. However, your total loan amount will include the above-listed fees. 

Where the Izwe Logbook Loan Stands out 

  • The Izwe Logbook Loan finances up to 75% of the car's forced sale value, which is relatively high compared to other lenders in the market.
  • Izwe allows the use of multiple cars as collateral
  • Early repayment of the Izwe Logbook Loan is allowed without any additional cost or penalties.
  • All associated fees, except the valuation fee, are capitalised into the loan amount, minimizing upfront expenses.
  • You can use your car to guarantee loans for close relatives 
  • Izwe has a nationwide presence with multiple branches and satellite offices across Kenya.
  • The Izwe Logbook Loan is accessible even to individuals with a negative credit score on their CRBs

How to Apply for the Izwe Logbook Loan on

You can now apply for the Izwe Logbook Loan on To begin, click on this link.

Once you access the next page, you will find the Money254 application form. Fill in the required standard information to facilitate the fast-tracking of your application by

Within 30 minutes, a Money254 agent will contact you to provide a detailed quote for the Izwe Logbook Loan and offer guidance on the application process. Following this, a relationship officer from Izwe Logbook Loan will reach out to you to finalize the necessary steps.

Upon the successful disbursal of your loan, you will receive a cash bonus of Ksh2,000 as an incentive for utilizing the Money254 platform during your application process.

It's important to note that Money254 is not a lender but rather Kenya's first fully integrated financial marketplace, dedicated to helping individuals find the most suitable financial products for their needs.

This service is provided to all Money254 users at no cost. To learn more about Money254, please visit their website.

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Mukere is a digital journalist based in Nairobi. He is passionate about writing and shaping stories that make the world a better place. Connect with Mukere on LinkedIn.

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