Looking For An Unsecured Loan As An MSME? This May Be For You

Published 2 months ago
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The KCB unsecured check off loans (Unsecured Personal Loans) is a one-of-a-kind scheme where customers can borrow up to KES 8 million ($50,000), repayable over 96 months. This amount will be automatically deducted or checked off from the customers’ KCB account.

Personal loans can provide funding with more predictable repayment terms than credit cards can, and interest rates tend to be lower than other financial products. These factors may matter more to you if you’re borrowing a large amount, or if you’re hoping to use your loan for debt consolidation, or a personal life or business upgrade. Interest rates on most personal loans are also fixed instead of variable, which can be a major consideration for borrowers worried about rising loan costs.

To get an easy loan of up to KES 8 million, with no security, from KCB Bank, over a repayment period of up to 96 months, simply provide proof of a steady income, be an active KCB account holder for a minimum of three months, and all is set.

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This product is set to be a game-changer in the industry because it will not only support salaried individuals with payslips but also self-employed individuals with proof of source of income, effectively acting as a capital injection in various layers of Micro, Small and Medium Enterprises (MSMEs) in Kenya.

Why Apply For A KCB Bank Personal Loan?

A personal loan refers to money borrowed from a financial or lending institution to be used for personal reasons – with no restrictions. The key factor that differentiates most personal loans from other kinds of loans is that you’re free to use the money as you please.

For instance, when you get an auto loan, you can only spend the money to buy a car. Similarly, if you get a home loan, you are only supposed to use the money to buy a home. With many personal loans, however, there are no restrictions on how to use the money.

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Aside from the lack of restrictions in this regard, personal loans also have relatively short repayment periods, depending on the lender. However, KCB has changed the game with a 96 month repayment period.

Access to personal loans, as well as the amount of money one can get through a personal loan, usually depends on a person’s income and creditworthiness. Once the personal loan is approved, an individual will be required to pay back the loan, plus the interest, in periodic instalments as agreed to with the lender.

This product will enable those who qualify to pay for rent, motor vehicle purchases and repairs, school fees, home construction and refurbishments, new machinery for businesses or farming, and even to simply expand that business. Holidays can also be taken care of – all through an easy application process.

With the attractive interest rates, no security and high loan limits, this product is available for all income groups, making it accessible to various customers in the KCB network.

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For more information, visit https://ke.kcbgroup.com/.

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