While having a lot of student loans can be burdensome, there are some upsides of graduating with a bit of debt, especially the one you acquire from the department of education. Sometimes it is absolutely necessary for a student to require some financial help so as to complete his/her education. As a student don’t be so sad about it as there are two sides to every opportunity, the bad and the good.
Interest rate reduction
One of the larger benefits of student loans is that the interest you pay on the loans is often deductible, meaning you can subtract it from your income, reducing your tax burden for the year. The loans offered by the ministry of education in Kenya is deductible once you have finished your schooling and been employed. This ensures you study without much hassle and make payments later once you are employed.
Facts you need to know about secured loans in Kenya One of the most popular ways to borrow money in Kenya today is getting a secured loan. Secured loans allow you to borrow the money that you need, and the loan is backed by a property that you as the […]
Getting a bank loan approved is not the easiest process. Due to the recent economic troubles experienced in Kenya, lenders are demanding for a lot more in a loan applicant hence becoming stricter. While there are few key areas lenders will be focusing on, it is important that are ready […]
GREENLAND FEDHA GFL is a micro finance institution owned by Kenya Tea Development Agency Holdings Limited. Its objective is provision of affordable financial services to all the households with low income. It launched a mobile banking platform referred to as PESA ULIPO that helps their customers to apply for credit […]
NATIONAL BANK PLOT PURCHASE LOAN This is a facility that enables you to purchase a portion of land that does not contain any buildings. National Bank finances up to 85% of the value of the land. The maximum repayment period is 10 years. You will enjoy comprehensive life, fire and […]
CONSTRUCTION LOAN FROM FAMILY BANK Family bank can help you finance the development of your land depending on the construction and the value of your land. Financing is for both residential housing and estate development. The features of such a loan include legal fees, valuation fees, stamp duty that is […]
SOMA LOAN FROM BANK OF AFRICA
This kind of loan helps in relieving stress of paying school fees and offers you the lowest interest rate as you keep track of your bigger dreams. The personal loan offered here can finance all levels of education: primary, high school, college, university (graduate and postgraduate).
The features are a processing fee of 2% and loan tenure of up to 10 months. The minimum amount you can borrow is Kshs.20, 000 while the maximum is Kshs.500, 000. Requirements are, you have to be employed or retired with a regular pay, at least 3 months with the same employer, a valid employment contract and the last payslip.
The word Sacco stands for Savings and Credit Cooperative. Sacco is a type of a cooperative that offers financial services focusing on provision of credit facilities and mobilization of funds to its members who are the users and owners. Sacco’s are becoming the best places to save and buying of […]
Unsecured Personal Loan With Bank Of Africa The unsecured personal loan with bank of Africa ranges from Kshs.50, 000 up to Kshs.2, 000,000. For the people who are salaried with a minimum amount of Kshs.25, 000. The repayment duration ranges from 12 months to 48 months. The response is given […]
Many people say that they would love to pay off their loans quickly but they are not sure of the best way to do it and where they should start. Truthfully there is no one best way that works in perfection for everyone. Hence here are various tips to get […]
