All about loans in Kenya
DEVELOPMENT LOANS ASSET SECURITY LOAN This is a loan property secured by collateral including land, buildings, motor vehicles and shares traded at the Nairobi Securities Exchange Product features Maximum Amount: Kshs 7,000,000 Minimum Amount: Kshs 1,000,000 Repayment period: 60 months @ 1.25% on reducing balance or 72 months @ 1.5% on reducing balance Ability to pay: […]
HIGHER EDUCATION LOAN Product features Caters for college and university higher education Maximum period – 24 months Interest rate – 1% p.m. on reducing balance (6.5% p.a.) Supporting documents – college fees structure must be attached to the application. Cheques may be raised in the name of the college where applicable Only one higher education […]
MACHINERY Product description This loan is for the purchase of farm machinery to facilitate production and transportation of farm produce. This is a direct response to the low uptake of technology and mechanized agriculture that continues to negatively impact on productivity levels. Apart from the convenience, increased mechanization and yields, an individual who comes for […]
HORTICULTURE & FLORICULTURE DEVELOPMENT LOAN Product description These are loans to finance horticultural and Floricultural projects Features Repayment period 2-5 years at annual installments Designed for individual & groups Items Financed Fruits, vegetables and flowers Green houses and related equipment Water and electricity supply systems Harvesting and packaging equipment Labor and other operational costs Working […]
SASA PESA LOANS Pesa na pesa This is a micro-credit service commonly referred to by people as Pesa na Pesa that issues loans through the use of mobile phone. It was established in the year 2015. However, this Pesa na Pesa service can be accessed by individuals who are Safaricom Subscribers. It offers emergency loans […]
Loans applications in Kenya are accessed from the Google Play Store by being downloaded into an android mobile phone. They grant instant online loans to applicants. The following is a list of Loans application in Kenya; Tala App It was originally referred to as Mkopo Rahisi. For an applicant to access a loan from the […]
M-pesa can be defined as a branchless mobile-based banking. It was introduced by Vodafone in the year 2007. M-pesa offer various services to its’ customers. They include; purchase of airtime, deposit and withdrawal of money, payment of bills [lipa na M-pesa]. M-pesa also offers online loans. ELIGIBILITY: The following are the qualification necessary to qualify […]
Tala It was introduced in Kenya as ‘Mkopo Rahisi’ in the year 2014. It was later renamed as Tala. For an applicant to procure a loan one requires to have a smartphone and an operating M-pesa. For more information access the; Tala Loan App Saida Loan App Saida uses the Saida Loan App to issue […]
Payday loans are short term ‘low interest’ loans whereby the person lending the money allocates loans with high interest in-regards to the borrower’s income and credit profile. Payday loans are issued the same day an applicant applies for them. ELIGIBILITY: The following are the qualification necessary to qualify for Payday Loans; An applicant must have […]
The onset of technology has brought about so much ease in accessing funds without having to use the conventional banking and SACCOS for one to have access to money and in particular loans. The availability of smartphones and ease of internet accessibility and customer friendly data packages have made it more affordable to access the […]