All about loans in Kenya
You have finally decided to venture into business, or maybe decided to buy land and are now looking for a bank loan. What factors do you consider before taking that loan? Do you look at the interest rates? Do you look at the repayment period? Taking a loan in Kenya has become quite easy nowadays, […]
Personal loans are a great way to raise money for various needs, such as starting a business, purchasing an asset, consolidating debt, or dealing with an emergency. However, this doesn’t mean you should walk into the first financial institution you come across and apply for a personal loan. Taking a personal loan is a significant […]
For those who don’t have enough money to start a business, Mwananchi Credit is a microfinance institution that provides loans and other financial products. They can help you with an overdraft facility if your bank account has fallen below the limit you set. It’s relatively easy to apply for an overdraft facility at Mwananchi Credit, […]
It is said that investing in land is a sure way of securing one’s future. For first-time land buyers, investing in land can be a daunting process. It, however, does not have to be. Now, anybody can buy land thanks to mortgage financing in Kenya. Therefore, what is mortgage financing and who can use it? […]
A loan is a sum of money that is borrowed by one party from another and is to be paid back with interest. Whether you’re looking at purchasing a car, starting a business, or consolidating your debts, it’s important to know about all of your options. In Kenya, the formal financial sector consists of banks and […]
Should you borrow money? Does your financial situation justify a personal loan, or should you try to avoid any debt at all costs? These types of questions often go through the minds of folks who are contemplating applying for personal loans irrespective of the expense. While there can be considerable benefits of a personal loan, […]
This is a savings account that allows M-Shwari customers to save for a defined purpose and for a specified amount of time. The funds saved on the M-Shwari Lock Savings account will be kept in the account until the maturity date; this maturity date is determined by the customer upon opening the account and ranges […]
Mshwari is one of the most widely used mobile loan services in Kenya. It is not just a lending platform but a paperless banking service that allows users to save in addition to borrowing. Saving money through Mshwari earns you a 6.65% interest per annum. You access loans of a minimum of Ksh. 100 and […]
This account allows you to set a target and make deposits towards achieving that target. How does it work? Go to M-PESA menu Select Loans and Savings Select KCB M-PESA Select Fixed Savings Select Target Savings Account Select Open Account Select source of funds; M-PESA or KCB M-PESA Enter Target amount you intend to save […]
This account allows you to lock a specific amount of cash for a period of up to 12 months. How does it work? Access M-PESA menu Select Loans and Savings Select KCB M-PESA Select Fixed Savings Account Select Fixed deposit Open Account Select the source of funds; M-PESA or KCB M-PESA Enter amount (amount needs […]