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:
- Valid Kenyan ID or passport.
- Latest Original Payslips.
- Proof of source of income for self-employed individuals.
- Active KCB account holder for a minimum of 6 months.
Types of KCB loans Kenya
The different loans offered by KCB are:
- Personal secured loans
- SME loans
- Personal unsecured non-check off loans
- Personal unsecured check-off loans
- Salary advance
- Boresha Biashara
- 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
- Valid Kenyan ID or passport
- Latest Original Payslips
- Proof of source of income for self-employed
Rates & Fees
- Interest rate – 13% (CBR rate of 9% plus Bank variable margin of 4%)
- Negotiation fees – 2.5%
- Charges are not inclusive of tax
- KCB account for a minimum of 3 months
- Security including title deeds
- Share certificates
- Among others.
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
- Total business cost breakdown and financing plan
- Audited accounts for amounts over Kes. 5 million for the last three years
Loan Rates & Fees
- Interest rate – CBR 13% +4
- 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.
- Provide proof of a steady income
- 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).
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.
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.
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
- Have an active KCB account and sign up on KCB mobile banking.
- Account must be active for 6 months with at least 4 deposits during the period.
- 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
- 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:
- Go to their website and apply or download the app from Google play store
- Fill all required information
- Submit all documents requested for
- Go ahead to apply by selecting loans
- Enter the amount
- Allow the app to read your phone data
- Check for necessary corrections to avoid errors
- Send the application.
- Wait for approval, if approved, you get your loan within a few hour
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.