Umba Logbook Loan: Product Details and How to Apply

Money254.co.ke is not a lender. We verify loan rates and provide cost breakdowns from Kenya's top lenders to help you apply for loans with confidence.

Customise your results to find loans you're eligible for by answering 5 more questions

Customize Results

Umba

Logbook Loan

Apply Now Download App Visit Website

View the Loan Breakdown

Loan Amount

Up to 50% of vehicle

Loan Period

3 months - 1 year

Interest Rate

3% per month

Total Cost
(incl fees)

3.54% - 5.17% per month + ksh3,150 upfront fee

Loan Cost

‍‍Monthly Interest: 3%
Processing Fee: 4%
Insurance fee: 2.5%
Disbursement fee: ksh0
Valuation:ksh2500
Logbook Search: ksh650
Logbook In-charge: Ksh1175
Logbook Transfer: ksh1175
Chattel Registration: ksh2000
Car Tracker: ksh20000
Membership fee: ksh1000

‍Loan structure

‍‍Type: Secured
Interest structure: Flat rate

Loan Details

‍‍% Financed: Up to 50% of FSV
Year of Manufacture cut-off: 2009
Minimum tenure: 3 Months
Max tenure: 12 Months
Minimum Amount: ksh100,000
Max amount: ksh1,000,000
Repayment Frequency: Monthly
Early Repayment: Allowed, not charged
Late repayment: 2% daily (of installment amount)‍

Documents

‍‍Original Logbook and copy
6 months M-pesa Statements
6 Months Bank Statements
Payslip if employed/Business registration certificate if in business
KRA Pin
National ID
Passport photo
Valuation report

Representative Example of Loan Costs:

Example Loan Amount: Ksh100,000
Example Loan Tenure: 12 months
Representative APR: 63%
Monthly Loan Repayments: Ksh15,130
Total Loan Repayment Amount: Ksh181,560

Pros:

Relatively low interest: Monthly interest of as low as 3%

Cons:

Upfront fees: Valuation fee of ksh2500 paid upfront
Maximum amount: Maximum loan amount is ksh1M

How Money254 works

Get a transparent loan cost breakdown in under 5 minutes.

1

Click Get a Quote and fill out the form.

Answer a few simple questions about your loan needs, and we'll instantly show you personalized loan offers from our partners, complete with full quotes and fee breakdowns — no hidden fees.

2

Receive a call from your Money254 Agent.

Request a quote and get a callback within 15 minutes. Your personal Money254 Agent will help you understand the details of your loan offers, so you can make the best decision for you.

3

Apply with priority support.

Your Money254 Agent will assist you in submitting your loan application to the lender. With our dedicated agents on your side, your application gets priority support for a faster, smoother experience.

Get a Quote - it's free!

Exploring your options? Try our Cost Calculator to compare these other Logbook Loan offers on Money254!

Stay in the loop. Make the right money move.

Thank you

Thanks for reaching out. We will get back to you soon.

Oops! Something went wrong while submitting the form.

Money254 strives to provide relevant and accurate product information, which Money254 obtains directly from each institution’s tariff guide. If you believe a product’s details are incorrect, please report the product to Money254.

Welcome to Money254 - your simple way to compare loans online.

At Money254, we're dedicated to helping you find the right loans for your business or personal needs. Easily compare over 150 verified loans from banks, MFIs, and digital lenders, and make informed decisions without having to visit a physical branch.

View Logbook Loans

More about Money254

Apply through Money254 and get a Ksh2,000 reward your approved logbook loan.

It's one of the ways we show our appreciation to our users while we help people find better loans.

Get a Logbook Loan quote

Learn more about Rewards

We've helped over 12,000 people find the right logbook loan.

Personal or business. Emergency or exciting opportunity. Money254 is your partner to help you make the right financing decision.

Stars - Elements Webflow Library - BRIX Templates

"It was excellent. I am delighted that you are true partners."

Michael in Naivasha

KES 175,000 to stock up His lighting busines

Stars - Elements Webflow Library - BRIX Templates

"Money254 Relationship Manager Madam Wangui was so wonderful from the time I inquired about loans. She did follow up and ensured I received the loan. Above all, she gave me the assurance and confidence that the partner was a genuine loan agency cause at first I was in doubts. I can't ask for more than what she did."

David in Nairobi

KES 350,000 to pay school fees

Stars - Elements Webflow Library - BRIX Templates

"Thank you. It was EXTREMELY helpful."

Laura in Nairobi

KES 250,000 to fulfill client hardware order

What can we help you find today?

Business Loans

Personal Loans

Logbook Loans

Auto Financing

Insurance

Credit Cards

Current Accounts

Savings Accounts

Blog

Understand more about Logbook Loans with these recent articles from the Money254.co.ke blog

Applying for Your First Logbook Loan? Here's What You Should Know

While vehicle ownership can make you a candidate for a logbook loan, the most eligible person is the one who has done their homework. Taking any type of loan demands foresight and understanding of the borrowing process.

January 18, 2024

November 2, 2023

Logbook Loan Buyoff in Kenya: Everything You Need to Know

November 1, 2023

Weighing Logbook Loans Against Other Options

October 24, 2023

I Want to Take a Logbook Loan to Support My Business. Should I?

September 27, 2023

What is Loan Buyoff and How Does it Work in Kenya?

August 24, 2023

6 Creative Ways To Raise Last-Minute Money For College

August 23, 2023

3 Ways to Leverage Your Car to Raise Money For School Fees

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

Platinum Credit: A Quick Logbook Loan Processed in 24 Hours

Explore other articles from around Money254

News and Analysis

December 20, 2024

Use of Credit, Debit Cards Drops to a 6-Year Low

News and Analysis

December 19, 2024

KRA Announces Changes in PAYE Deductions, Starting With the December Salary

December 19, 2024

Buying a Ksh30k Phone Upfront Vs Paying Ksh72 Daily on a Pay as You Go Plan

News and Analysis

December 17, 2024

Police Officers, Civil Servants to Get Priority in Ksh500 Billion Housing Levy Projects

News and Analysis

December 13, 2024

Interest on T-Bills & Bonds Continues to Fall; What it Means for Investors

News and Analysis

December 11, 2024

World Bank’s Warning on Kenya’s Shadowy PPP Deals as IMF Speaks on Finance Bill 2024

News and Analysis

December 9, 2024

23 Insurance Companies Risk Closure Over Inability to Pay Claims

News and Analysis

December 6, 2024

MPs & Civil Servants to be Exempted From Income Tax Charged on Private Sector Employees

No items found.

Stay up to date with your money - download the Money254 App today

Download our app to have our powerful comparison tools at your fingertips, anytime you're considering a loan in the future.

Get it on Google Play

The Money254 on a Phone.

Disclaimer: The information that Money254 provides on this website is obtained from publicly available resources and is intended for information or educational purposes only. Money254 strives to keep the information on the website up to date and does not warranty that all the information will be as the financial institutions updated or changed information at all times. Money254 does not own any of the information provided by or obtained from third party financial institutions. Take note that the institutions represented on this website may vary their terms at any time or may offer you terms different to what you have seen on the website due to their own analysis of your individual circumstances or change of terms and you are encouraged to review the specific financial institution’s terms and conditions when obtaining their services or products. Money254 is not a financial institution, insurance provider or financial adviser and is not liable for any decisions any individual makes based on the information provided on the website. Please refer to our terms and conditions and privacy policy before using this website.