Loan Cost
- Interest: 21%
- Application Fee: 0
- Processing Fee: 3%
- Excise Duty: 20% of processing fee
Loan structure
- Type: Secured
- Interest structure: Reducing balance
- Security needed: 2 guarantors with hazina accounts
Loan Details
- Loan size: SME
- Minimum tenure: 6 Months
- Max tenure: 36 Months
- Minimum Amount: ksh1M
- Max amount: ksh3M
- Repayment Frequency: Monthly
Eligibility
- Time in operation: 12 Months
- Banking History: 6 Months
Documents
- National ID
- KRA Pin
- Coloured Passport photograph
- Open a Hazina account with the bank
- T&C Link
Example Representative Pricing
- Loan Amount: ksh100,000
- Annual Interest Rate: 21%
- Processing Fee: ksh3000
- Excise Duty: ksh600
- Loan duration: 12 months
- Estimated Monthly repayment: ksh9,311
- Estimated Total repayment amount: ksh111,737
This product is provided by Faulu Microfinance Bank. Faulu Microfinance Bank is a Deposit-taking Microfinance Bank licensed under the Microfinance Act No. 19 of 2006 and regulated by the Central Bank of Kenya.
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