Loan Cost
- Interest: 13%
- Application Fee: 0
- Processing/Negotiation Fee: 2.5%
- Excise Duty: 20% of processing fee
Loan structure
- Type: Unsecured
- Interest structure: Flat Rate
- Collateral needed: None
Loan Details
- Loan size: Micro/SME
- Minimum tenure: 6 Months
- Max tenure: 24 Months
- Minimum amount: ksh50K
- Max amount: ksh600k
- Repayment Frequency: Monthly
Eligibility
- Time in operation: 12 Months
- Banking History: 6 months
Documents
- Business License of the current year
- Certified Bank statements for 6 months
- Copy of KRA
- National ID
- T&C Link
Example Representative Pricing
- Loan Amount: ksh100,000
- Annual Interest Rate: 13%
- Processing Fee:ksh2,500
- Excise Duty:ksh500
- Loan duration: 12 months
- Estimated Monthly repayment: ksh9416.67
- Estimated Total repayment amount: ksh113,000
This product is provided by The Co-operative Bank of Kenya. Co-operative Bank of Kenya is a Commercial Bank licensed under the Banking Act Cap 488 of the Laws of Kenya and regulated by the Central Bank of Kenya.
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