Motor cycle loan

This loan product is designed for those who need a motorcycle as their source of income. The product has a direct impact on creating employment.

Key Features

Member Admission fees

Applicable

Loan Processing Fees

Applicable

Frequency of meeting

No Meeting

Cash Collateral against principal loan

Applicable

Interest of savings

Not Applicable

Type of loan product

Motorcycle loan (Individual)

Loan size (1st cycle)

KSH 100,000

Loan duration

6 months and 12 months

1st loan disbursement

After two weeks

Loan increment each cycle

Not Applicable

Service charge/Interest Rate

Applicable

Mode of repayment

Weekly

1st instalment

After one week

Number of instalment

25 weeks / 6 months or 50 weeks / 12 months

Instalment

50 Weekly instalments or 12 Monthly instalments

Loan insurance/risk premium

Applicable

Risk cover

LOP will be written-off in case of borrower death

Advance instalment

Last 5 instalments ONLY for weekly instalments term.