Loans
Micro Finance Individual Loan
Eligibility Criteria
- Customer to maintain an active account with the bank for at least six months.
- Serviced their previous loans without default.
- Maximum repayment obligation of Net Household Income (NHI).
Target
- Micro enterprises in business operated for at least 24 months.
Loan Amount
- Minimum of KES. 300,000.00 except for repeat customers.
- Maximum of KES. 3,000,000.00
Loan Disbursement
- Loan installments to be booked on weekly or monthly basis as per client’s request.
Collateral
- The borrower to provide cash collateral of at least 10% and the rest to be fully secured by tangible security.
- Stock hypothecation supported by all risk insurance with the bank as 1st loss payee to the extent of the borrowing. ( Done by Sidian Insurance Agency)
Loan Tenor
- 24 months
Pricing
- Interest at prevailing market currently at 14%
- Appraisal and disbursement fees at 3% and KES. 1,000.00 chattels registration.
Chama Biashara Loan
Target Customer
- Customer to maintain an active account with the bank for at least six months.
- Serviced their previous loans without default.
- Maximum repayment obligation of Net Household Income (NHI).
Collateral
- 30% cash collateral prior to application and disbursement.
- The customer must maintain active account with the bank.
- Amounts above KES. 800,000.00 shall be secured using cash collateral, fully charged log books and title deeds.
- Stock hypothecation supported by all risk insurance with the bank as 1st loss payee to the extent of the borrowing. (Done by Sidian Insurance Agency)
Loan Tenor
- Maximum 24 months.
| Loan | Loan Tenor | Amount |
| 1st | 6 Months | Maximum KES. 300,000.00 |
| 2nd | 12 Months | Maximum KES. 450,000.00 |
| 3rd | 18 Months | Maximum KES. 700,000.00 |
| Next | 24 Months | Maximum KES. 3 Million |
Loan Amount
- Minimum of KES. 20,000.00
- Maximum of KES. 3,000,000.00
Loan Disbursement
- Loan installments to be booked on weekly or monthly basis as per the client’s request.
Pricing
- Interest at prevailing market currently at 14%
- Appraisal and disbursement fees at 3% and KES. 1,000.00 chattels registration.
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