Personal loan
These are personal loans ranging from amounts of Ksh 50,000 to Ksh 2,000,000 extended to salaried individuals withh minimum net salaried of Ksh 25,000.
Eligibility:
- Any salaried individual who has been in continous employment for over 6 months
- Minimum net qualifying salary of Ksh 25,000
- Maximum qualifying age is 55 years
- Processing fee of 3%
- Clean Credit Reference Bureau report
Benefits:
- Competitive interest rates
- Flexible interest installment matched to your income
- Maximum loan amount Ksh 2,000,000
- Minimum loan amount Ksh 50,000
- Quick processing & disbursement within 1 week
Features:
- The loan duration is a minimum of 12 months to a maximum of 48 months
- Response time in 48 hours
- Maximum amount of the loan is Ksh 2,000,000 and a minimum of Ksh 50,000
Requirements:
- Submission of duly completed Bank of Africa Personal Loan application form
- Letter of undertaking from employer confirming employment and that salary shall be sent directly to the applicant’s Bank of Africa account
- Copy of a valid ID
- Copy of PIN certificate
- The originals of the preceding 3 months’ payslips
- For non-BOA customers, certified copies of bank statements for the preceding 6 months