* 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 13.54%.

Total Cost Breakdown (Loan Fees):

• Interest Minimum: 13%
• Interest Maximum: 13%
• Processing fee: 2.5%
• Insurance Fee: 0.54%
• Withdrawal Fee: None
• Late Fees: None
• Other Fees: 20% Excise duty on Processing fee
  

Disbursement Details:

• Institution Type: Commercial Bank
• Application Method: Paper based
• Disbursement Method: Bank Account
  

Repayment Method:

• Repayment Frequency: Monthly
• Early Repayment: Allowed
• Repayment Method: Auto-deduction
  
  

Eligibility Requirement:

• Smartphone: Not required
• CRB: Must be in good standing
• Income: No Minimum
• Employment: Not Required
• History: Active Account for 6 Months
• Network: No requirement

Documents:

• National ID,
• 3 pay-slips,
• Proof of income,
• KRA Pin,
• Application form Filled and signed
• T&C Link

Example Representative Pricing

• Loan Amount: ksh100,000
• Annual Interest Rate: 13%
• Processing Fee: ksh2,500
• Excise Duty: ksh500
• Credit insurance: ksh540
• Loan duration: 12 months
• Estimated Monthly repayment: ksh8,932
  
• Estimated Total repayment amount: ksh110,721

This product is provided by KCB Bank Kenya Limited. KCB 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 36 Months)
• Competitive processing fees (2.5%)
• Formal employment not Required    

Cons:

• Must have an active account for 6 Months
• Application process involves paperwork
• Disbursed amount lower than requested amount(processing fees & credit  insurance deducted upfront)