Home business kenya BANKS OFFERING UNSECURED LOANS IN KENYA

BANKS OFFERING UNSECURED LOANS IN KENYA

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Which banks are offering unsecured loans in kenya ? Banks in kenya are known to give loans only with security but there are banks offering unsecured loans unknown to many. By taking up an unsecured personal loan with us, we will not need you to provide any property or collateral to ‘secure’ or guarantee the loan.

BANKS WITH UNSECURED LOANS

1 NIC BANK unsecured loans

requirements for loan without security

  • Certified copy of ID/ valid Passport for non – Kenyans
  • KRA PIN Certificate/ equivalent tax certificate for Diaspora clients .
  • Latest three (3) months pay slips (6 for commission staff)
  • Latest six (6) months bank statements (12 for commission staff)
  • Proof of residence document
  • Letter from employer (In NIC Bank format )
  • Check off letter (where applicable)
  • Current Contract Letter must be provided by Customers employed on contract, Commission income earners and expatriates.
  • Rental income should be channeled through NICB account & Original or certified true copy of tenancy agreement provide, supported by Deed of Rental Assignment upon loan approval.

loan amounts to qualify

  • Minimum loan amount is KES 100,000
  • Maximum loan amount is KES 4,000,000
  • Repayment period of up to 72 months

2. STANBIC BANK loans without security

We know you have aspirations and may need a little help to get ahead. Our personal unsecured loans allow you to choose the product that suits your needs.

What do you need to apply unsecured loan?

  • You must have been in employment for the past two years
  • Be a salaried employee earning a minimum net salary of KSh40,000 a month
  • Your latest payslip
  • Copy of ID or passport
  • PIN Certificate
  • Letter from your employer confirming terms of employment
  • Six months’ bank statements from another bank if you don’t bank with us.

For more details about unsecured personal loans, visit any branch or call us on: +254 (20) 3268 888.

3. CBA group bank

Unsecured Loans

Benefits of loans without security :

  • You can borrow in Kenya Shillings or in major foreign currencies such as USD, EURO and GBP (if your income/salary is in a foreign currency).
  • The application process is short and simple.
  • There is no penalty for early repayment.
  • Loan Protection Insurance – to cover your repayments in case of accidental death or accidental permanent disability.

loans without security Application Requirements:

  • Your pay slips for the latest three months.
  • Certified copies of bank statements for the latest 6 months.
  • A letter of reference from your current employer.

For more information contact us on contact@cbagroup.com or call us on +254 711 056444/ +254 732 156444 and we will be happy to guide you through the application process

4. Standard chartered bank

High Loan Amounts

Borrow up to KES 7 Million with no security required.

Flexible Tenure

Ease your financial management with our convenient repayment schedule of up to 6 years *T&Cs apply

Competitive Interest Rates

Enjoy flexible interest rates from as low as 13% p.a *T&Cs apply

Loan insurance protection

5. KCB bank

Unsecured Personal

The Unsecured Personal loans are granted to individuals in order to meet their personal needs without the requirement for a security deposit. Apply now for an instant unsecured loan.

Benefits

  • Open to employed/self-employed individuals with a regular steady income.
  • Repayment period of up to 48 months.
  • No security deposit required.
  • From as low as Kshs 20,000 to as high as Kshs 4M

Standard Requirements

  • Must have had an account with KCB for at least 3 months
  • Original and copy of National ID or passport
  • Employment card (where applicable)
  • Latest original pay slips (where applicable)
  • Proof of income for self-employed individuals

Rates & Fees

  • Repayment period is a maximum of 48 months (4 years)
  • Interest rate of 13% (CBR rate 9% plus Bank Variable margin of 4%)
  • Negotiation fees of 2.5%
  • Other fees e.g. insurance premium to be advised by the personal banker at your branch

read also:

HOW TO GET KRA PIN FOR COMPANY

BEST MOBILE LOAN APPS AND THEIR INTEREST

6. NATIONAL BANK UNSECURED LOAN

INDIVIDUALS

UNSECURED PERSONAL LOANS
At National Bank, we understand the needs of our customers’ and we have personal solution to each of our customers and we are offering a tailor made solution to each of our customer.

Our unsecured personal loan helps you achieve your dreams – best education for your children, watch the next world cup in Brazil, shopping in Dubai, make improvements on your home ,take advantage of a great investment opportunity, post-graduate studies for yourself, a much-needed overseas holiday for the whole family.

Your dream is just an application away with National Bank Personal Unsecured Loan.

national bank unsecured loan Eligibility

• Salaried on permanent and pensionable terms in a reputable organization.

Features
• The minimum amount you can borrow is Kshs 50,000; the maximum Kshs 4million.
• Flexible repayment options – you get up to 6 years to repay the loan.
• Interest rates calculated on reducing balance basis.
• No security needed.

Benefits
• Competitive interest rates
• No security needed
• Credit Life & Retrenchment Insurance Policy
• Convenience and easy access; service at your doorstep.
• Easy access of your money via ATM, Mobile banking and internet banking.
• Loan top up available.


Documents Required for unsecured national bank loan

a. National Bank Customers

  1. Proof of income – latest 3 months certified copies of pay slips.
  2. Copy of ID/ passport.
  3. One passport size photograph.
  4. Letter of introduction from employer on company letter head.

b. Non-National Bank Customers

  1. Introduction letter from employer on company letterhead
  2. Six months original bank statements from current bankers, where salary is processed.
  3. Copy of ID / Passport
  4. Proof of income – latest 3 months certified copies of pay slips.
  5. One passport size photograph

Other information.

  • The Bank reserves the right to approve or decline an application.
  • The applicant will be checked up against the Credit Reference Bureau.
  • The Bank reserves the right to change the interest rate.

Calculator
Please fill in the following information for an estimation of your loan without security repayment amount. The Approximate Monthly Repayment figure for Personal Loan is indicative and is not meant to be final or binding on the Bank. The Bank reserves the right to determine the final amount that can be borrowed.

Amount you want to borrow (Kes) * (Upto Kes 4,000,000 )______
Personal Solution (Personal Loan + Credit Card + Current Account) Interest rate * 16.5%

Personal Solution Lite (Personal Loan + Current Account) Interest rate * 17.5%

Personal Loan Interest rate * 19.9%

Your preferred repayment period in months (minimum 6 months – maximum upto 72 months)* Monthly repayments

7. 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.

8. Consolidated bank unsecured loans

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.

Other banks like cooperative Bank, Equity Bank, family bank offer unsecured loans only for salaried whose salary is passing through the bank

read also:

STAWI LOAN APPLICATION, APP, CONTACTS AND HOW TO APPLY

TIMIZA LOAN APPLICATION- CHEAPEST LOAN , FORGET TALA AND BRANCH

KCB BANK JOB VACANCIES AND INTERNSHIPS

EQUITY BANK JOB VACANCIES , INTERNSHIPS AND ATTACHMENT

COOPERATIVE BANK SCHOLARSHIP APPLICATION FORM, QUALIFICATIONS AND CONTACTS

NATIONAL BANK JOBS AND INTERNSHIP

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