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Unsecured Non: – check off loans (Easy pay loans):

Target Group : – This is available to salaried individuals who work in organizations with a check-off agreement with KCB.

The employer has a responsibility to automate loan repayment deductions directly from the applicant�s pay slip. This is available for organizations with low staff turnover.

Features include:-

• Interest rate.
• Loan up to 3 Million.
• Repayment up to 72 months.
• Minimum loan to borrow is Ksh 10,000.

While Easy pay has been a sucessful product it has its limitations. It is restictive as its target customer must work in an organization with a check-off agreement with KCB. This in the past has dissapointed the number of potential customers. There is therefore need to also communicate other loan options appeal to employers of large organizations with low staff turn over to introduce check-off loans to their employees as a benefit.

Unsecured Non – non – check off loans:

This loan is available to individuals who can show proof of a personal regular steady income e.g. through salaries, rent, income from casual or temporary jobs, from own business etc. However the applicant’s income must go through a KCB account at a minimum of 3 months and longer. Where an applicant is employed and receives a salary, the relationship between the employer and KCB is not formalized as is for the Easy Pay loans. The employer however has the responsibility to ensure that the applicant’s salary is sent to a KCB account for the duration the loan is outstanding. Individuals with no proof of salary e.g. a pay slip need to show through their bank statements evidence of steady income deposited into their accounts.

The borrowing limit for this loan has been reduced to Ksh 5,000 to allow anyone earning from Ksh 3,000 and above to access loans.(In the past customers could only access up to Ksh 10,000 and earn a minimum salary of Ksh 15,000.)

The key features include:-

• Loan size up to 1 Million.
• Up to 3 years repayment period broken down as follows.
• Ksh 5,000 – Ksh 50,000 can be repaid in one year.
• Ksh 50,000 – Ksh 1M can be repaid over 3 years. If one is employeed on contract basis, the repayments will run up to the end of the employment contract.
• Minimum loan to borrow is Ksh 5,000.
• Individuals can access a larger amount (greater than Ksh. 1M) is they have additional security to guarantee the loan.

Salary Advance

In case on an emergency and one requires quick access to cash, they can quickly get a salary advance. One can get up to 100% of their salary (if permanently employed or 50% if working on a temporary basis). One also needs to be a KCB account holder for at least 6 months to get a salary advance. No application charges and a low interest rate is charged

Terms and conditions apply on all loans