Member Of
+254 733 553 555
Member Of
+254 733 553 555
Member Of
About Loan
Amount
Eligibility
Repayment
Security/Collateral:
About Loan
The loan product is designed for regular income earners, including salaries and
rental income.
Amount
- Minimum amount: Ksh.50,000
- Maximum amount: Ksh.1,000,000
Eligibility
- Must have operated an active bank account for a minimum period of six months.
- Business clients must have experience of not less than one year.
- Salaried clients must have completed the probation period.
Repayment
Maximum period of 24 months. 24% p.a. on Flat Rate Processing fee – 3%
Security/Collateral:
- Joint registration and chattel mortgage on Motor Vehicles.
- Cash held in fixed accounts or savings accounts held under lien.
- Land Charge.
- Credit Insurance is required on all loans for Death and Disability (1.25% p.a.).
Comprehensive insurance over the motor vehicle with LOLC KENYA MICROFINANCE
Bank’s interest noted as the first loss payee