With the strike of Covid-19 and expenses increasing consistently, it is challenging for salaried individuals to go through the entire month with their salary. In such examples, they turn to loans and advance payment to help them solve unplanned and pressing needs. Many people go for salary advances. This is largely because their salary will pay off the owed amount without them having to worry about it or run around for funds. That is where KCB salary advance comes in.

Admittedly, getting a salary advance is more flexible and convenient than a regular loan. Quick in disbursal and repayment. Therefore, we now have a simpler alternative called “Salary Advance”. It is the solution we seek for monthly financial liberation. 

Read on. We will take you through what makes KCB salary advance one of the best in Kenya’s financial industry.

A complete guide on KCB salary advance application

The principle of managing funds prudently by many people as it concerns meeting emergencies and unforeseen future needs cannot be fully achieved. Notwithstanding all our struggles and personal hacks, we will one time or the other request for salary based loans such as KCB salary advance.

This Kenya Commercial Bank (KCB) salary loan goes a long way by helping to solve short-term financial issues of salaried employees. As regards the guide to KCB salary advance loans, take note:

• The platform is not meant for Kenya Commercial Bank employees but also KCB salary account holders.
• For the completeness you seek in meeting all your needs, the loan is the solution right in front of you. You may have heard of so many other platforms that give you credit, but KCB is one of the best.

What you should know about KCB groups and their Salary advance 

The holding company oversees KCB Kenya and was incorporated with effect from January 1, 2016. KCB Group offers many products and they call one of them Salary advances. They enhance access to unrestricted funds to KCB account holders and salaried employees. It has units in Uganda, Tanzania, Rwanda, Burundi, Ethiopia, and South Sudan. They also own KCB Insurance Agency, KCB Capital, etc.

They set the holding company up to enable access to regular loans in new ventures outside banking, achieving operational and strategic autonomy. The Group is an operating entity and enhanced corporate autonomy. 

What is KCB Salary Advance

KCB salary advance is a short-term loan that is open to all salaried employees who have a KCB bank account in order to meet their emergencies. They give the credit to salaried KCB account holders pending the next payment. Once the salary enters the account, the calculation is done and they leave the remaining amount in your account.  

How does KCB salary advance work

The KCB salary advance is handled by KCB Group. They are registered as a non-operating holding company and they give out loans to people. One of their products is Salary advance. They give their salary advance based on the individual’s salary amount. The amount you earn, determines the amount of salary advance you can take. This is done in such a way that your salary will cover the advance you will get.

How do I qualify for KCB salary advance 

Every lending platform has qualifications and eligibility to meet in order to become a potential client for a loan. You qualify by:

1. Being 18years and above 
2. Possess a national ID card
3. Be a salaried individual 
4. Have an account with KCB for at least 3months

Requirements

Lending institutions ensure they work with customers that have all the prerequisites they need. The following are the requirements of a Kenya Commercial Bank salary advance:

1. Open and own an account with the Kenya Commercial Bank, for at least 3 months or more
2. File or present original copies of your national ID or passport.
3. 3 months original latest payslips.
4. Be willing to accept that the salary advance is based purely on an individual’s salary.

Payment

For the credit, the payment is flexible and requires no collateral. Permanent employees can get up to 1.5 times of their salary or Kshs.100,000 whereas contract employees can apply up to Kshs.100,000. Normally, it is repaid within 3 months or fewer, but KCB keeps deducting their loan amount until the loan amount is fully covered. 

Benefits

1. You can access up to Kshs. 100,000 for permanent employees and 100% for contract employees.
2. No collateral required.
3. Instant advance without delay.
4. Standard and simple Requirements
5. Competitive interest rate.

Note: KCB salary advance also accessible through KCB mobile banking (*522#) or KCB App

The KCB salary advance loan calculator

KCB bank provides qualified individuals with an idea of how much they are expected to pay back. This helps employees work with a reasonable budget within their financial abilities. Once you start having a doubt, check out their loan calculator online and use it as a tool for loan calculation.

How to Apply for KCB Salary Advance

To apply for KCB salary advance, follow the procedure below:

1. Visit the bank or their website online 
2. Collect the application form of salary advance and apply
3. Fill in the application form and supply all personal details
4. Provide all relevant documents
5. Wait for approval
6. Once approved, access the platform on phone through bank’s mobile banking (*522#).

How long does KCB’s salary advance take?

The KCB salary advance processing and disbursement time depend on how fast you provide the bank with all the required details. Go through the application to correct all necessary errors to avoid delay on the credit processing.

Once they approve your application, access the KCB salary advance on phone through the bank’s mobile banking (*522#).

Conclusion

In times like this, with the current pandemic and other economic issues, loan based applications and solutions do not seem too easy. KCB salary advance is making living seamless and hassle-free. With their instant approval and quick cash disbursement, you will get more value. In conclusion, it translates to more ease and convenience of living.

How to qualify for KCB loans is a question this article will answer. The KCB loan application process is simple. Customers can borrow from KCB for a variety of amounts ranging from kshs. 1,000 to Kshs. 1,000,000. Their loans are accessible and affordable. Follow along with the discussion.

About KCB loans and group

KCB Group is a licensed banking institute and registered non-operating holding company. It started operations on January 1, 2016. The holding company oversees KCB Kenya. KCB Kenya renders financial services to the people. They offer different types of loans to the people. KCB group has regional units in Uganda, Tanzania, Rwanda, Burundi, Ethiopia and South Sudan. 

It also owns KCB Insurance Agency, KCB Capital, KCB Foundation, National Bank of Kenya and all associate companies.

How do I qualify for a KCB loan?

What KCB needs from you to qualify for the loan include: 

1. Valid Kenyan ID or passport.
2. Recent original Payslips.
3. Evidence of source of income for self-employed persons.
4. Be an active KCB account holder for a minimum of 6 months
5. For credit card advance, possess a KCB financial card

Eligibility to qualify for KCB loans

1. Be 18years and above
2. Have a valid national ID
3. Possess a registered sim

How long does it take to process a KCB loan?

KCB loans are gotten once you qualify and are done with the application. At most, expect it within 7 working days.

Different categories of KCB loans

1. Personal secured loans
2. Personal mobile loan 
3. Unsecured checkoff loans
4. Emergency loans
5. Salary advance 
6. Business loans
7. Sharia Compliant personal loans 

How to apply for KCB loan 

Applying for KCB M-Pesa loan is simple. Just follow the steps below:

1. Visit the website to apply from there
2. Fill all required information
3. Get a feedback, apply and Submit all documents if requested for
4. Wait for approval, if approved, you get your loan within a few hour

Conclusion

KCB loans are easy to qualify for. It is also very easy to get the loan. Go ahead and apply once you qualify. Different types of loans are available. Every loan type serves a purpose for a particular goal. The purpose of this article has been to talk about the eligibility to qualify for KCB loans and how to qualify equally. Take advantage of KCB loans and all the features that come with them.

In this post, we look at how to transfer money from M-Pesa to a KCB account. To be the preferred provider of financial solutions in Africa with global reach, KCB strives to drive efficiency while growing market share. In order to understand how to transfer money from M-Pesa to a KCB account, let us first review KCB mobile banking.

KCB mobile banking

To start with, you will need to open an M-Benki account to access a host of mobile banking services from the bank. In offering this service, the bank primarily aimed to give customers control of their funds and financial plans. Through M-Benki, Kenyan commercial banks are able to earn interest, offer loans on flexible terms and transfer funds to other banks and mobile wallets. 

About M-Benki 

M-Benki offers users the convenience of checking their bank balances, bank statements, and buying credit right from their phones. You can do the following with M-Benki:

1. It is possible to transfer money to other KCB banks 
2. There are banks other than KCB where you can move your funds 
3. Money can be deposited into and withdrawn from M-Pesa
4.  No matter what network you use, you can easily buy credit.

Opening a KCB- M-Benki account 

1. Navigate to the M-Pesa menu on your phone toolkit, if you are not a customer of KCB bank 
2. Choose payment services, then pay bill. Put KCB paybill number 522522 in when prompted with a business number. 
3. Select the account, then enter “ID” accompanied by your ID number in the format ID23456789. 
4. Indicate the amount of money that you intend to deposit.
5.  Upon completion, enter your M-Pesa PIN to authorize the transaction 
6. A short message with your user ID and your personal identification number will be sent to you, and a second message with your M-Benki account number. 

Note: Existing clients can register for m-banking at their nearest KCB bank. 

How to withdraw cash with a KCB M-Benki account 

In case of an emergency involving an expired ATM card or immediate financial needs, you don’t need to worry about forgetting your ATM card. You can withdraw cash at your nearest KCB ATM by using ‘555555’ as the agent number. 

How to transfer money from M-PESA to a KCB account

1. Go to your M-PESA menu,
2. Choose Lipa na M-PESA,
3. Enter the PayBill number 522522,
4. Enter the KCB account number you are transferring money to and the amount
5. To send money, enter your M-Pesa PIN and confirm.

https://www.tuko.co.ke/273009-how-transfer-money-mpesa-kcb-account.html?utm_source=direct&utm_medium=rads

How to withdraw money from KCB to M-Pesa account 

Here is a comprehensive guideline on how to transfer your funds from KCB to M-Pesa. They are:

1. To start a transaction, dial *522# in your phone and enter your M-Benki secret PIN
2.  Select MyKash from the pop-up menu, then M-Pesa.
3. M-Pesa grants multiple choices to send money, either to your phone or any other 
4. As you proceed, enter any amount you wish to transfer, provided it does not exceed fifty Kenyan shillings or KSh. seventy thousand. 
5. When you enter an amount, the system displays the cost of the transaction along with the amount you entered 
6. Accept and complete the transaction if all is well
7.  The amount deposited to your account will be notified to you via SMS. 

How to Open a KCB M-BENKI Through M-Pesa

1. Go to M-PESA menu
2. Choose Lipa na M-PESA
3. Select Paybill and enter Paybill number 522522
4. Under account, type ID(No Space) and your National ID Number e.g ID123456789
5. Enter the amount to deposit, and your M-Pesa PIN.
6. You will receive two SMS’s, one with your KCB M-BENKI Account number and the other with your temporary PIN.

Sending money from M-Pesa to KCB charges

For all deposits made via Mpesa to KCB, there is no charge from KCB. Sending money through Safaricom M-Pesa, however, will incur a fee. Moreover, the charges below are applicable:

1. Dialing on to KCB Mobi Bank via USSD is charged by your mobile phone subscriber. Safaricom subscribers pay Kshs. 2.
2. Balance enquiry is charged at Kshs. 33
3. Mini statement is charged at Kshs. 33
4. Forex rates are free.
5. Airtime purchase for own phone and other phone is free
6. M-Pesa transfer from KCB account to M-PESA is Kshs. 55
7. Mobi Loan and Kopa Bill Loan are charged an interest of 6%
8. Salary Advance is charged an interest rate of 8% per month.

Note: To deposit money to KCB via Mpesa for free (without paying the Mpesa transaction charges), open a KCB M-Benki account (which is opening a KCB account through M-Pesa). 

How to purchase airtime via KCB App

1. Open the KCB App icon
2. Select Transact
3. Choose Airtime
4. You can purchase for own phone or pick recipient from contact list

KCB M-Pesa contacts Kenya Commercial 

In case you want to reach M-Benki client mind centers, apply the following contact information. 

1. Short Message: 22522 
2. Mobile: 0732 187000 or 0711 087000 
3. Facebook: KCB Bank Group and 
4. Twitter: KCBgroup 

Conclusion 

The mobile money transfer industry is probably one of the fastest-growing service industries in America. Given its mobility and adaptability, several banks, like KCB, have adopted the concept. Interestingly, it is now possible to transfer funds from M-Pesa to KCB locally. 

The pandemic affected virtually all parts of life, including how we pay for goods and services. The part we tapped from was paying more bills with our credit cards. When checking out in a store after buying groceries, paying with a credit card is often better than paper bills. KCB credit card comes into play here. 

Therefore, one big upcoming trend in many businesses is launching credit cards products at a rapid speed. KCB is not left behind. They have various credit cards that serve various purposes for their customers. Let us quickly discuss these credit cards and their functions.

What is KCB credit card

KCB credit cards are cards issued to customers by KCB to enable them to pay for goods and services based on the promise to pay the amount and other agreed charges. KCB usually creates a rotating account and permits lines of credit to their customers from which they can borrow money for payment or as a cash advance.

How does KCB credit card work in Kenya?

The KCB bank creates a revolving account for the customer and grants a line of credit from which the customer can borrow or take a cash advance. The money withdrawn from the account is customers’ and not incur interest charges.

The benefits of KCB credit cards are convenience. It allows short-term loans to be made to customers who need not calculate a balance remaining from transactions. Once the total charges do not exceed the maximum line for the card.

KCB credit card 

KCB has its own various credit cards, which are at the apex of the chain. Their features and benefits are almost similar, but the only difference is the limit each of them can hold.

The four basic credit cards launched by KCB and issued to customers are:

1. Classic Visa card 
2. Gold Visa card
3. Platinum Visa card
4. Gold mastercard 

Classic Visa credit card

This card is for those who wouldn’t want to be cash strapped. All expenses incurred can be charged to KCB classic credit card and paid later. The minimum limit is Ksh. 20,000 and above. KCB and non-KCB customers can access this card.

How can I get a KCB Classic visa card

The requirements for KCB classic Visa card are:

1.  National ID card or passport 
2. KRA pin
3. Properly filled credit card application form
4. Six (6) months bank statement or account turnover of Ksh. 20,000 to Ksh. 49,999 for self employed 
5. Salary account bank statements for a period of three (3) months

Rates and fees

1. Joining fee of Ksh. 3000 waived
2. 3.5% monthly fee if the amount due
3. 6% cash advance fee of the amount accessed
4. 5% late payment fee of total outstanding balance 
5. Ksh. 1,000 for over limit fee
6. Annual fee of Ksh.3,000
7. Card replacement fee of Kes.1,000
8. Supplementary card fee of Kes.1,000
9. 10% of totally billed amount for minimum repayment

Note: bank representatives call from time to time to get information on your KYC process for your credit card. Never reveal your PIN to anyone. Remind yourself that PIN, yako siri yako. Also note that charges are not inclusive of tax.

Gold Visa card

KCB Gold Visa card is for customers and non customers of KCB looking to access a higher credit. The maximum credit limit is Kes. 200,000 and above.

How can I get a KCB Gold visa card

What KCB need from you in order to process your Gold Visa credit card are:

1. Kenya national ID card or your passport 
2. Your KRA pin
3. Credit card application form
4. Bank statement for six months and turnover of between Kes. 200,000 and kes. 299,999 for the self employed 
5. Salary account bank statement covering 3 months
6. Recent pay slip of minimum net salary of between Kes. 200,000 and Kes. 299,999

Other rates and fees

1. They charge a joining fee of Kes.4000 waived
2. Annual fee of Kes.4000
3. 3.5% monthly fee of the principal amount
4. Cash advance fee of 6% of the amount gotten
5. 5% late repayment fee of the total amount in question
6. Over limit fee of Kes. 1,000
7. Credit card replacement fee of Kes. 1,000
8. Supplementary card fee of 1,000
9. 10% minimum repayment of the total billed amount 

Platinum Visa card

Platinum credit is guaranteed with premium credit card experience. It is a card to bridge every gap in order to experience happiness, adventure, surprises and aspirations.

How can I get a KCB Platinum visa card

To get platinum Visa card, follow the procedure:

1. Present a national ID card or passport and your KRA pin 
2. Filled credit card application form
3. Bank statement for a period of 6 months and average turnover of Kes.300,000 for self employed 
4. Latest pay slip with a minimum of Kes.300,000 as the net salary 

Fees and rates

1. Kes. 4000 waived joining fee
2. Kes. 4,260 as an annual fee
3. A monthly fee on the total amount charged at 3.5% 
4. Cash advance interest of 6%
5. Late payment fee of 5% interest rate
6. Charges covering an over limit fee of Kes. 1,000
7. Pay a card replacement fee for Kes. 1,000
8. Remote a supplementary fee of Kes. 2,000
9. 10% of the total bill amount will be charged as the minimum repayment 

Gold MasterCard

KCB Gold MasterCard makes you master of yourself in payment. You can pay online at your own pace, shop at the mall and pay with your mastercard. It is available for both customers and non-customers with a minimum amount of Kes. 50,000 and above.

How can I get a KCB Gold Mastercard

1. You need to possess a national ID or passport with your KRA pin
2. Bring along your credit card application form
3. Kes. 50,000 and Kes. 199,999 average turnover and bank statement for six (6) months
4. Salary account bank statement for three (3) months
5. Last pay slip with a minimum of net salary of between Kes. 50,000 and kes. 199,999

Rates and other fees

1. Joining fee of Kes. 4,000 waived to be charged on the Gold MasterCard 
2. Having an annual fee of kes. 4,000
3. Attracting a monthly fee of 3.5% on the total amount due
4. 6% as the cash advance fee on the total amount accessed 
5. 5% late repayment fee on the outstanding balance
6. Kes. 1,000 as the over limit fee
7. Card replacement fee of Kes. 1,000 to be charged
8. Supplementary fees of kes. 1,000
9. 10% billed amount as the minimum repayment. 

Benefits of KCB credit cards 

Some benefits of KCB credit cards are:

1. Convenience and portability 
2. Interest-free period on purchases for 45days
3. Flexible repayment plans and options
4. General card acceptability 
5. Increase in purchasing power
6. Help you avoid losses from fraud

Conclusion 

When credit cards are used properly, you can never accumulate debt with it. KCB credit cards are globally accepted and used for varieties of purposes. Certain purchases are difficult to make with a debit card, but with your credit card, your transaction will go through. The KCB credit cards also make it easier for you to shop and not carry paper bills around. Often you enjoy the privilege of paying immediately and earn your bonus or discount. Finally, with KCB credit cards you will enjoy a combination of discounts, rewards, buyer protection and value of cash-on-hand. 

Generally, individuals use loans to purchase goods and services they otherwise could not afford, such as personal loans and small business loans. KCB provides some special service with their lending activity that is not available from other lenders. Their loans are seen as great financial tools when they are used properly. They help narrow down your needs. KCB loans Kenya are affordable, accessible and beneficial. Going through this article, you will read and learn everything about KCB loans in Kenya.

How do I qualify for a KCB loan Kenya?

Before you qualify for KCB loans, Kenya, they will require the following from you:

1. Valid Kenyan ID or passport.
2. Latest Original Payslips.
3. Proof of source of income for self-employed individuals.
4. Active KCB account holder for a minimum of 6 months.

Types of KCB loans Kenya

The different loans offered by KCB are:

1. Personal secured loans
2. SME loans
3. Personal unsecured non-check off loans
4. Personal unsecured check-off loans
5. Masomo
6. Salary advance 
7. Boresha Biashara
8. Mobi loans

Personal Secured KCB Loan

Are you looking for a new investment or need to get an asset? With the KCB Personal Secured Loan, you can get going quickly and with flexible repayment periods up to 72 months. To get KCB loan Kenya, you need to have an active KCB account. 

What KCB need from you

1. Valid Kenyan ID or passport
2. Latest Original Payslips
3. Proof of source of income for self-employed 

Rates & Fees

1. Interest rate – 13% (CBR rate of 9% plus Bank variable margin of 4%)
2. Negotiation fees – 2.5%
3. Charges are not inclusive of tax

Requirements

1. KCB account for a minimum of 3 months
2. Security including title deeds
3. Logbooks 
4. Share certificates 
5. Among others.

SME Loans

The loan is available in either secured or unsecured. The maximum loan amount is KES. 250 Million. Affordably repaid and giving you access to financing to help you meet current and long-term business objectives.

What We Need From You

1. Total business cost breakdown and financing plan
2. Audited accounts for amounts over Kes. 5 million for the last three years

Loan Rates & Fees

1. Interest rate – CBR 13% +4
2. Favorable Negotiation fee – 3%

Personal Unsecured Non-check Off Loan

Our website offers easy cash loans up to 2 million shillings with no security, a repayment period of up to 36 months, and no collateral required.

Requirements

1. Provide proof of a steady income
2. Be an active KCB account holder for a minimum of 3 months

Personal Unsecured Check Off

Get a check off loan if you are a government employee, or work for a company that has an agreement with KCB Bank. With monthly repayments remitted by your employer, the check-off loan of up to 4 million Kenya shillings can be repaid in up to 72 months (6 years).

Masomo

You can apply for a Masomo Loan if you have a KCB active account for at least 3 months, are salaried, or have a guardian. Provide funding for educational endeavors and pay it back comfortably over 24 months. Go forward and proceed with your studies.

Salary Advance

KCB Bank customers with active KCB Salary Advance accounts are eligible to make the Salary Advance loan. They will process a salary advance as quickly as possible in response to an unexpected financial need. 

Boresha Biashara Loan

Boresha Biashara Loans provides micro businesses with access to financing, up to a maximum of Kes 1,000,000. You have the ability to top up existing loans, as well as flexible repayment periods of up to 36 months.

Mobi Loan

If you want quick funding, get one of their quick loans and use it to pay for your purchase or resolve your emergency. KCB Mobi Loan Kenya allows instant access to loan amounts ranging between Kes 1,000 and Kes 300,000. Only register for mobile banking.

What We Need From You

1. Have an active KCB account and sign up on KCB mobile banking.
2. Account must be active for 6 months with at least 4 deposits during the period.
3. Check the account regularly and should not be overdrawn at any point.

In line with our KYC process, a bank representative may call you at any time to obtain further information. You will never be asked for your PIN or password. Remember, PIN yako siri yako.

Rates & Fees

1. This is a one-month loan charged at 4.08% interest.

How to apply for a KCB loan Kenya

To apply for KCB M-Pesa loans, follow the procedure below:

1. Go to their website and apply or download the app from Google play store
2. Fill all required information
3. Submit all documents requested for
4. Go ahead to apply by selecting loans 
5. Enter the amount
6. Allow the app to read your phone data
7. Check for necessary corrections to avoid errors
8. Send the application.
9. Wait for approval, if approved, you get your loan within a few hour

Conclusion

KCB loans Kenya are available in many forms, such as mobi, personal loans, micro loans, and masomo loans. Each type of loan serves a purpose for a goal you may have, or so you can break up a huge expense into more manageable monthly payments. There may also be times when you need to borrow money for an emergency, KCB loan is here for you. Explore and enjoy the full features of the loan platform.

When the pandemic swept across Kenya and more and more states started issuing stay-at-home orders, the country was concerned about its economic impact on small businesses. To keep individual needs and businesses afloat, mobile loans and loan platforms still allow individual access loans. These loans were given to help people who lack funds to keep them going. The Jijenge loans platform offers various categories of loans to people. They likened it to the best because of its consistency in serving people in different needs with suitable loans. 

Here comes a concise but great discussion on Jijenge loans and all you need to know.

About Jijenge loans

Jijenge Credit is a non-deposit microfinance lending institution with head office at Town house, Nairobi, Kenya. They have offices in Kenya, Sudan and Tanzania. Their company chain clients are SMEs and those who cannot access financial services. Businesses in the line supplies, construction and tenders enjoy quick loans against their logbooks in less than six (6) hours and pay after 3 months.

What you need to know about Jijenge loans

1. Has a maximum repayment duration of 48hours
2. Loan application interest rate is charged at reducing balance method
3. They process loans immediately, applications are received.
4. It is simple and straightforward
5. You repay after 3 months
6. With its flexible and longer repayment, no need to worry about loan installments

5 Products offered by Jijenge loans

Jijenge credit is known for its popularity in offering loan services to the citizens of Kenya. The various products they offer in Kenya are:

1. Logbook loans
2. Bid bonds
3. Asset financing
4. Title deeds/Rental income
5. Import duty finance

Logbook loans

This type of loan allows you to submit your logbook so as to access a loan. The log book serves as a collateral in case of loan default. They would sell the collateral to recuperate the money as agreed when you default.

Requirements:

1. Original logbook
2. National ID 
3. KRA pin
4. Recent 6 months bank statement
5. Post-dated cheques 
6. Comprehensive and up-to-date insurance cover.

Salary check-off loan

It is offered to salary earners pending next salary pay day. You get the loan to solve pressing needs and wait till month end to clear all outstanding loans. So many employees in Kenya have benefited from this platform. All you need is to have an account with them and allow your employer to process your salary through them.

Check out KCB salary advance

Bid bonds

Bid bonds are requirements for the tendering process and are shown to the procuring firm as an instrument of assurance of capability during the selection process. The buying agency tenders the bid bond as an instrument to convince the firm that they can pay off the loan amount.

Asset financing

Here a percentage of your products or goods or project is financed by Jijenge platform. The product is always what customers go for as a measure of security of their investments.

Title deeds/Rental income

Jijenge credit limited allows you to submit your property to access a loan. When you need cash, you can sort out your needs by rendering your property as a collateral.

Import duty finance

Your import trade activities are supported by Jijenge credit limited. They add value to import business by rendering a full range of products and services. By financing up to 90% of your products makes you own varieties of products and pay back when you sell off the products.

Why you need to choose Jijenge Credit Limited

1. Affordable and competitive interest rate
2. You are allowed to pay for a longer period. That means you can pay little by little
3. Ability to revise monthly repayment when your income changes
4. Insurance with mortgage protection cover is obtained in case of death
5. Permits you to transfer mortgage loans from other banks#
6. Finance up to 90% of the value of the property

General documents required

1. Kenyan national ID
2. Tow sized passport photograph

Documents required by employed consumers

1. Introduction letter from employer
2. Recent 6 month pay slip
3. Six (6) months salary bank statement 

Documents required by self-employed consumers of Jejinge Credit

1. Credit history and business background profile and registration documents
2. 3 years audited accounts
3. 3 years cash flow
4. 12 months bank statement
5. Borrowings and facilities advanced from other firms (If any)

Also read up on the following related articles

• Premier Credit – Eligibilty and how to apply for a loan
• Mwananchi Credit – What you should know
• Milhan Access Capital Review and How to Apply

How to apply for Jejinge Credit Limited

To apply for Jejinge Credit, visit their office and fill the application form and know the next process.

Or

Download the Jejinge application form online, print and fill the form and return to their office.

How to contact Jijenge Credit Limited

Visit them @ Nairobi, Town House, 6th floor, Suite 605. If you wish to send them a message, email them via info@jijengecredit.com. You can call them @ 0711 282727 or 0702 282727 or 0703 282727

Conclusion

Jijenge loans offer ranges of products to their customers. They are ever ready to serve the underserved and those who have anywhere to access funds. Once you have the instruments to serve as collateral, proceed to Jijenge office and fill the application form. With Jijenge loans, you will enjoy the benefits you have been craving for. Can we talk about their easy loan application or flexible repayment? Try them out today and see the difference.  

All should access good health as a basic human right as contained in the 2010 Kenya constitution. But not every citizen of Kenya can afford it because of its high cost, this brought about the National Hospital Insurance Fund (NHIF). It became a vehicle the government of Kenya uses to roll out universal healthcare in the country. NHIF Card replacement is one of the trending topics in Kenya.

We will take you through the meaning, processes, and all you need to know.

What is NHIF?

NHIF stands for National Hospital Insurance Fund. It is the primary render of health insurance in Kenya. Their primary aim and vision is to provide all Kenyans access to quality and affordable health care services.

What is NHIF card?

NHIF is a printed document given to a member who has fully registered for NHIF health care services. It is evidence that you are a member and have fully subscribed to their insurance services. The card covers hospital bed charges, nursing care, diagnostics and all drugs prescriptions and all medications. 

Eligibility 

Any person resident in Kenya is eligible. For those in the formal sector, it is compulsory to be a member, but for those in the informal sector, it is Voluntary. 

Requirements for registering under the NHIF  

The requirements for registering under the National Hospital Insurance Fund are listed below:

1. Valid ID Card
2. Passport photo
3. Authentic Marriage certificate if married. 

How to register for NHIF

Registration fee is ksh.1500. The procedure for applying for NHIF registration online is as follows;

1. Visit: http://www.nhif.or.ke/healthinsurance/registeronline/
2. Select Employed or self employed
3. Employee application form will load
4. Fill the form details
5. Attach copy of ID, passport photo and marriage certificate (for married people only)
6. Click Save
7. They will notify you of your status upon payment
8. You will also receive an SMS to your number confirming your registration. 

NHIF card processes/collection

For your NHIF card replacement collection, after completing your application and the application being approved, visit any NHIF office close to you and get your card printed for you.

How long does it take for NHIF card to mature?  

The normal NHIF card takes up to 14days. After 14days, visit the nearest NHIF branch office and pick your card or have your card printed out for you.

How can I get an NHIF card replacement?

When you lose your NHIF card, you can replace it by making payment Kes. 10000 to any of these banks:

1. Equity bank
2. Co-operative
3. National Bank and
4. KCB Bank

You tell the bank teller that the payment you are making is for NHIF card replacement, then take the bank slip to any NHIF office and have your card replaced or printed.

How can I activate my dormant NHIF card?

How to reactivate your dormant NHIF Card:

1. On your M-PESA menu, select Lipa M-Pesa.
2. Select Paybill, enter NHIF M-Pesa paybill number: 200222.
3. Under account number, key in your national ID number.
4. Enter the amount
5. You should receive a confirmation message of the transaction.

How long does your NHIF card take to be active?

To reactivate your NHIF card, you have to pay kes.1500, you will then wait for two (2) months  (60days) to start with their regular services.

How can I know that my NHIF card is active?

As a member of NHIF, you can check if your card is active by:

1. Composing a new SMS message
2. Type the letters “ID”, give space, then followed by your ID number (or passport number) e.g. ID 34234567.
3. Tap send and send it to 21101.

How does NHIF card works?

All illnesses and diseases in Kenya are catered for by the National Insurance Fund (NHIF). After Registration by a member, a card is issued out. Once a member is discharged, they pay all bills accumulated in the hospital.

Benefits of NHIF

National Health insurance Fund (NHIF) as a health care service provider in Kenya plays a role in attaining better and quality packaged health care services. NHIF benefits ranges from:

1. Clinical care services
2. Maternity cover
3. Life cover by paying death benefit upon verification of complete document and receipts of the deceased.
4. Expense cover by paying for funeral expenses.

How to contact NHIF

To learn further, reach NHIF out on their toll-free number  0800720601, (020) 2723255/56, (020) 2714793/94 and (020) 2722527 or customercare@nhif.or.ke.

Fax detail is (020) 2714806 and the email address of National Hospital Insurance Fund for enquiries is customercare@nhif.or.ke.

For any kind of complaints, email to complaints@nhif.or.ke.

Conclusion 

Only the financially able can access good health care in Kenya, but with the inception of NHIF, most of the citizens can afford a robust of good health care. For those citizens in the informal sector who are not obliged or mandated to become a member, register today and get the full packages that come with proper health care and attention. 

When you are looking to buy a house or own a home and you don’t have enough to fund it. You can take up a home loan in Kenya. Home loan enables you to buy lands or build your dream house. Get your documents ready and be honest with every single detail. Have a consistent income. Then you are ready to take up a home loan.

We will take you through a home loan application and all you need to know.

What is a home loan?

Home loan is a loan designed to help individuals own a house or purchase and develop commercial properties. It is a loan taken to purchase plots of land to rent out for commercial usage or private usage. With a home loan, you can become a landlord in a few years after repayments. 

General features of a home loan

1. Home loan is only for construction of a new house or purchase of a ready-to-move-in property
2. Interest rate is low compared to mortgage 
3. Typically, between 0.8% to 1.2% of the loan value
4. Up to 30 years

Difference between home loan and mortgage loan

Home loan is a loan for buying or constructing of houses while,

Mortgage loans are loans taken against a property that the borrower already owns.

How do you qualify for a home loan?

To qualify for a home loan, you need:

1. Credit score of at least 620 points and above 
2. APR and DTI ratio should be less than or equal to 50% to qualify for a home loan.
3. Have a consistent income flow
4. Be ready and willing to reveal everything single truth and present all documents required. 

Credit score for a home loan

You need a credit score of 620 and above. It involves enormous sums and lenders are not ready to lose or give out their fund just like that. You need to have a good credit score to qualify. 

How to improve your home loan eligibility 

To improve your home loan eligibility:

1. Check out for errors on your credit report 
2. Ever ready to respond to your lender

How to get your home loan approved

Because of the enormous sum involved in home loans, lenders conduct strict observation and scrutiny before disbursements. To get your home loans approved, you need to;

1. Be aware of your financial situations
2. Make a higher down payment
3. Have a good credit score
4. You can use a co-applicant like your parents
5. Keen details to application forms and documents.

Some home loan lenders in Kenya 

Some home loan providers in Kenya include:

1. HF groups
2. KCB
3. NCBA Bank
4. Stanbic Bank of Kenya

The HF groups 

They are private lenders that give out home loans in Kenya. 

Features

1. Up to 90% financing of the selling price or value
2. Maximum loan term of up to 20 years for employed individuals and 10 years for SMEs and groups
3. Product is for outright purchase of a home

Benefits

1. Our Home Loan provides you with an affordable way to buy a home with
2. Loan repayment duration of up to 20 years for occupied homes there is tax relief for customers
3. Mortgage protection cover in case of death or disability
4. Includes insurance cover for fire

Requirements for Employed Persons

1. National ID 
2. Passport copies
3. KRA PIN Copy
4. 3 months payslips
5. 6 month’s salary bank account statements
6. Letter from employer

Requirements For Self-Employed Customers

1. National ID
2. Recent Passport photograph
3. KRA PIN Certificate
4. 3 years audited books of account
5. 1 year bank statements
6. Certified copy of partnership deeds (for partnerships) and Rental schedules (for landlords)

Fees & Rates

1. Commitment Fee of 1.5%
2. Valuation fee of approximately 0.5%
3. Legal Fees of approximately 1-2%
4. Stamp duty of 4%

KCB bank

The KCB is one of the biggest banks in Kenya, with a strong capital and assets base that provides a home loan.

KCB home loans features:

1. Appraisal fees at 2.5% of loan amount
2. Ledger fees of Kes 350 per month
3. External Application Fees
4. Mortgage Plus Fees
5. Negotiation Fee of 2.5% of loan amount
6. Ledger Fee of Kes 350 per month.
7. Legal and valuation Fees
8. Stamp duty at 4% of cost of property or value on the open market
9. Stamp duty on charge at 0.1% of loan amount
10. KCB can finance insurance premium
11. Charges are not inclusive of tax

Visit their website to find out more about KCB KCB loans 

NCBA bank 

NCBA home loans features

1. Competitive Mortgage interest rates
2. Friendly loan terms
3. Loan repayment periods of up to 25 years.

Features

1. Mortgage loan facilities of the loan amount in local currency, 1.5% of the loan amount in foreign currency.
2. They offer NCBA mortgage loans in Kenya Shillings, Dollars, Pounds, and Euros.
3. 105% Financing of property value or market price, whichever is lower.
4. Maximum term of up to 25 years.
5. They calculate home loan Interest on a reducing balance basis.

Stanbic Bank home loans

Stanbic Bank home loan features:

1. Up to 105% finance of properties below Kes. 20M
2. Up to 100% of finance for construction of single residential houses below Kes. 20M
3. Loan tenure–up to 20 years (240 months)
4. Debt to income ratio–should not exceed 50% of net salary
5. Minimum loan amount–Kes. 1M
6. Minimum property value–Kes. 3M
7. Free cover limit for loan amount Les. 30M and below
8. Only available to salaried customers in local currency

Visit their website to read up more 

General requirements for a home loan

1. A completed and signed mortgage application form.
2. Your Original ID/Passport (plus copies)
3. 6 months certified bank statement.
4. 3 months’ pay slips.
5. Sale agreement or letter of offer(for purchase mortgage only)
6. Letter of introduction from an employer.

Benefits of home loans

Benefits of home loans include:

1. Easy repayment 
2. Mortgage cover
3. Fire insurance cover from some lenders 
4. Longer repayment duration 
5. Tax relief from some financial lenders.

Simple ways to make easy repayment 

Ways to make easy repayment of home loans:

1. Pay a down payment of over 20%
2. Make a part payment
3. Go for short tenor repayment duration 
4. Choose a lender with low interest rate
5. Never miss your monthly repayment 
6. Take advantage of home tax exemption

How to repay home loans

There are general ways of repaying home loans. Different lenders have different ways of collecting their loan repayment. They include:

1. Login or locate your M-Pesa account 
2. Select paybill 
3. Enter the business number
4. Enter your phone number as your account number 
5. Type in the amount you want to repay
6. Enter M-Pesa pin
7. Confirm details and press ok
8. Repay your home loan

Note: you can also repay through your bank account. By writing a standing order to your bank or transferring directly to the lender’s account. 

Conclusion

During the home loan application process, it is pertinent that you reveal all information which applies to your personality. Be true with it. Know what you are going for and every single detail. If not, they might reject your Home Loan application. If you are not sure about your eligibility, you can use Home Loan Eligibility Calculator to avoid Home Loan rejections.

It is common in Kenya to get loans without security. It comes with minimal requirements and funds are received instantly. Loans in Kenya without security are easy to access and qualify for. The purpose of this article is to direct you on how to apply, some platforms to apply from and how to qualify. 

Facts about loans in Kenya without security 

You can easily secure loans in Kenya without security but one thing is certain, it attracts higher interest rates. Unlike secured loans that come with lower interest rates. Loans in Kenya without security are loans you apply without presenting any collateral or instrument as backup for the loan. 

In addition, you may not get a higher amount by most lenders due to the involved risk. Some lenders use the collateral as backup in case of loan default.

Other than that, loans without security are simple and quick to get.

How to apply for loans in Kenya without security 

1.  Visit lenders online or offline and check their features
2. If you wish to use a mobile app, download the app from Google play store. 
3. Register online by filling the form or create an account on the app
4. Upload all necessary documents of requested for
5. Apply for the loan based on the loan limit
6. Input your account number 
7. Wait for loan approval 
8. Once approved, get your loan

Lists of loans in Kenya without security 

Generally in Kenya, there are various credit platforms and financial institutions that gives funds without security and they are:

1. M-Pesa loan apps like: Tala loan app, Branch loan app, Zenka loan app, KCB M-Pesa loan app, Mshwari loan app, etc
2. Banks like: Equity bank, NIC Bank, National bank online loans, KCB unsecured loans, etc.
3. International loan platform like: International finance corporation, etc
4. SACCOs
5. Credit unions 
6. Online emergency loan lenders

What qualify my eligibility for loans in Kenya without security 

1. Credit rating and worthiness 
2. Financial stability 
3. Age limit
4. Have evidence of proof of age
5. National ID to prove citizenship 

How is the repayment terms like? 

1. Some ranges from 30days to 60days
2. Attracts an interest rate of 6% to 15% depending on the lender

Categories of loans in Kenya without security 

1. Personal loans
2. Business loans
3. Emergency loans
4. Salary advance 

Conclusion 

This article shows the various alternatives you can choose from when looking for loans without security. The first amongst them is mobile loans. Mobile loans are easy to access and just one tap on the phone, you get your loans instantly. Your other alternatives include private lenders, international financial firms, online loans, SACCOs, etc. 

Compare and evaluate the above mentioned in this article. We shall be updating this article as soon as we come across other viable credit platforms in Kenya without security. 

The fact that loan applicants tend to focus on the cheapest loan and better options led us to discuss this topic “Cheapest bank loans in Kenya”. There are various costs associated with loans. These costs make up the interest rate, legal fees, insurance, charges, and origination fees.

Stay tuned and follow the discussion.

About the cheapest bank loans in Kenya 

Banks vary in strength, and they offer different types of loan with unique features. The most peculiar thing surrounding these types of loans is the fees and interest it attracts. Going further, some banks offer the best and cheapest loans with standardized fees. The fact that most Kenyans depend on loans to navigate through financial need makes them always seek for the cheapest loans ever.

Moreso bank loans are said to be cheap when it has:

1. Low interest rate with long duration 
2. No or low origination fee
3. Have no hidden charges
4. No late fees or other fees.

Cheapest Bank loans in Kenya

In the course of our research and compilation we came up with banks that offer the cheapest loans in Kenya. Some of these banks are:

1. Central bank of Kenya

The central bank of Kenya (CBK) has the benchmark as the best lender with 9% interest rate. Their loans are unique and follow due processes.

2. Victoria Bank

This is one of the cheapest banks that offer loans at a subsidized rate. They charge more fees on loans other than interest prescribed. They also stick to loan agreements and offer more affordable credits.

3. KCB

KCB loans often attract a 13% interest rate. They offer different categories of loans. Ranging from Masomo loans, personal unsecured check off, salary advance, etc. The only extra fee you pay is negation fees of 2.5%. Interest rate comprises CBK rate at 9% and bank variable margin of 4%.

4. National Bank of Kenya

NBA is a commercial bank and licensed by the central bank of Kenya. You can get an unsecured loan of kes. 6,000,000 without collateral

Benefits

• Short processing period
• Easy payment
• No collateral required
• Top up your loan
• Easily accessible

Rates and fees

• Minimum of KSh 50,000 and maximum of KSh 6,000,000
• Interest Rate is made up of  CBR + Bank Margin% p. a on a reducing balance.
• Has a minimum of 6 months and a maximum of 84 months
• Negotiation fees of 2% for first loans and buy offs. Then 1.5% for top-ups.

Internal costs

• Appraisal fees charged per individual

External costs

• Excise duty
• Insurance fee charged against retrenchment and death.

5. HDFC Bank

HDFC is one of the biggest private lenders in the country. The transparent process in offering loans helps customers with easy access to instant unsecured and other forms of loans.

Benefits

• Loan disbursal within just 10 seconds for pre-approved customers
• Loan disbursal within 4 hours for other customers
• Optional insurance coverage for customers
• Hassle-free application process

6. Stanbic Bank Kenya

Stanbic Bank Kenya is also one of the top-notch loan providers with a top-notch collection of loan products in its line-up. The personal loan offered by the bank comes with flexible terms for the benefit of applicants. They include:

Benefits

• Competitive interest rate
• Flexible payment and loan-top after 6 months or repayment
• Fast and hassle-free application process and fund disbursed within 48 hours

What you need to provide

• Kenyan National ID
• Proof of Residence. You can come along with your utility bill or lease agreement.
• 3 months bank statement or your current payslip
• Kenya Revenue Authority PIN

7. HF Group

HF Group is an integrated property, and financial solutions regulated by the Central bank of Kenya. They are major financial institutions that offer SME loans and Asset financing in Kenya. The personal loan offered by the company comes with the following terms:

Features & benefits

• Maximum period of 36 months and Maximum amount of Kes. 500,000
• No early repayment penalties
• Attractive interest rate on reducing balance

Interest rates in loans per bank

1. Cooperative bank – 13.5%
2. Equity bank – 13%
3. KCB -13%
4. Barclays bank – 14%

Common types of cheap loans offered by the banks

1. Secured loans
2. Salary advance

How to conduct a quick search on the cheapest bank loans in Kenya 

To conduct a quick search on the cheapest bank loans in Kenya, follow the process below:

1. Learn how to use the credit calculator online/mobile application 
2. Check out sites like loanspot.io/ke 
3. Read reviews on bank loans either online or on Google play store.

Credit calculator mobile application 

This is a tool that calculates and shows the total cost of credit pricing mechanisms. The application helps borrowers to compare bank loan costs based on standardized gauges.

Conclusion

Most borrowers fall as prey to banks that offer expensive loans. The reason is that they patronize the ease of getting the loans rather than knowing the interest or other fees attached. For the fact that it is urgent, borrowers seem not to notice some features. Some banks exploit Kenyans at the point of vulnerability. 

Note that it is better to conduct a proper research for the cheapest loans before taking one loan. It does not have to screw you as long as you have means of repayment.