Top 10 Unsecured Bank Loans

1. 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 to you within 48 hours. It has competitive interest rates and quick processing where you receive the money within a week. The eligibility characteristics are; any salaried person with a net salary of Kshs.25, 000 and has been employed for at least 6 months, the maximum qualifying age is 55 years, it has a 2% processing fee and lastly a clean credit Reference Bureau report.

2. Unsecured Personal From Co-Op Bank

A personal loan product targeting salaried people or individuals with a regular income. The amount ranges from Kshs.50, 000 to a maximum of Kshs.4, 000,000. The maximum repayment period is 72 months. The purposes covered are medical, education, furniture and consumer durables, plot purchase, motor vehicles shares and holidays. Your loan application is appraised using credit scoring and it is done within 48 hours.

3. Personal Loan With CFC Stanbic Bank

The minimum loan amount offered is Kshs.50, 000 while the maximum is Kshs.4 million. The maximum loan repayment period is 60 months with an option of topping up the loan after making payments for 6 months. The approval time is 48 hours after all your documents have been received. Eligibility requirements are; you must have been employed for the past two years and be a salaried individual with a net salary of Kshs.40, 000 per month.

4. Personal Loan From Barclays Bank

Barclays bank offers 3 types of personal loans to its customers.

• Barclay loan – a personal loan for the salaried customers, unsecured.
• Scheme loan – unsecured loan for the employees of an institution which is given through an agreement between the institution and Barclays bank. This particular is made to meet your specific personal expenses.
• Expatriate loan – a loan product tailored for a foreign national holding professional qualification who has worked in Kenya for a while.

5. From Equity Bank

• Equiloan – A loan facility that enables Equity bank clients can develop themselves by acquiring assets and also sorting out their own personal issues. It does not require any tangible security.
• Flexi-salo – A loan that is provided to the salaried customers whose institutions do not have check-off agreements with Equity bank or they are not served under the salary advance loan.
• Salary advance – A loan facility given to salaried customers, up to 4 times their salary, to help them meet their emergency needs.
• Eazzy loans – A loan facility afforded to everyone who is an account holder with Equity bank. It is provided through your mobile phone with an Equitel sim card. You can borrow up to the maximum amounts that you are eligible for.

6. Personal Loan From Consolidated Bank

A loan afforded to salaried individuals for transactional purposes. It is unsecured and the maximum amount you can borrow is up to Kshs.2 million. The repayments period is up to 60 months.

7. Personal Loan From National Bank

A loan facility afforded to salaried with permanent and pensionable terms with reputable institutions. The minimum amount you could borrow is Kshs.50, 000 while the maximum is Kshs.4 million. The repayment period is of up to 6 years. The interest rates are calculated on the reducing balance. No security required. You can easily top up the loan. The loan has credit life and retrenchment insurance policy.

8. Commercial Bank Of Kenya Personal Loan

A loan facility that enables to borrow up to a maximum amount of Kshs.3 million and the minimum amount is Kshs.50, 000. The repayment period is up to 5 years. The interest is charged on reducing balance.

9. Personal Loan From Standard Chartered Bank

The maximum loan amount you could borrow is up to Kshs.4 million. The repayment period is of up to 60 months. You must have a minimum gross salary of Kshs.15, 000. The loan has credit life insurance policy. The maximum interest is about 16.25%.

10. Salary Loans From Family Bank

Loan facility available to all the account holders with Family bank whose salaries are paid through the bank. The repayment period is of up to 24 months. Top-ups facilities are available upon request. There should be no late payments.