NIC Bank Loans- Unsecured Personal Loans, Secured Personal Loans, Salary Advance, Overdrafts, Education Loans, Secured Diaspora Loans, Car Loan, Features, Requirements.
NIC Bank Loans.
NIC Bank Loans: Unsecured Personal Loans
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.
FEATURES
-Repayment period of up to 72 months
-Minimum loan amount is KES 100,000
-Maximum loan amount is KES 4,000,000
REQUIREMENTS
-Proof of residence document
-Letter from employer (In NIC Bank format )
-Check off letter (where applicable)
-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)
-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.
NIC Bank Loans: Secured Personal Loans
Leveraging your personal assets can help you secure a loan or line of credit at a lower interest rate with NIC Bank. Personal assets could be your home, car or personal savings. The value of these assets helps our team of experts determine the rate of your loan or line of credit.
FEATURES
-Minimum loan of KES 300,000
-Maximum loan is based on capacity to repay
-Financing up to 90% of value of security
-Repayment period is up to 60 months or to retirement age/expiry of other critical docs.
NIC Bank Loans: Salary Advance
Our salary advance facility is granted to salaried employees to finance emergency needs awaiting receipt of salaries.
FEATURES
-Maximum amount is 60% on net income repayable on receipt of salary (maximum one month)
-Facility is accessible 3 times a year
-Customer must have been banking with NIC and salary received on current account for a minimum of 6 months
NIC Bank Loans: Overdrafts
Our overdraft facility is a short term credit loan that allows you to access more than what is available in your bank account.
FEATURES
-Maximum limit of KES 20, 000 for Gold Customers
-Maximum limit of KES 50, 000 for Platinum Customers
-Overdraft facility to be accessed once per quarter on an unsecured basis
-Virtual limit to be regularized within 30 days
NIC Bank Loans: Education Loans
Are you looking to further your studies or need to pay for your semester fees? Our unsecured educational loan can be used by students to fund their own education or education of a child, dependent or relative.
FEATURES
-Minimum loan amount is KES 50,000
-Maximum loan amount is KES 1,000,000
-Repayment period of up to 48 months
REQUIREMENTS
-Customer must provide an admission letter from the Institution with the fees structure
-Loan proceeds will be made direct to the educational institution by way of Banker’s Cheque, RTGS or EFT (Transfer charges will be borne by the customer).
-Top ups allowed as long as debt to income ratio is not more than60% subject to a maximum of KES 1,000,000
NIC Bank Loans: Secured Diaspora Loans
We not only offer loan to individuals who reside in Kenya but also to those in the diaspora. Our Diaspora secured loan is available to non- resident Kenyan citizens working outside the country and their salaries are paid to an NIC Bank account or customers who transfer funds to an NIC Bank accounts on a regular basis.
FEATURES
-Minimum loan amount is KES 300,000
-Maximum based on the value of the security and repayment capacity
-Repayment period of up to 48 months
REQUIREMENTS
-The applicant must be able to demonstrate proper legal status in the country of residence
-The applicant must have lived in the resident country and worked there for not less than 6 months.
NIC Bank Loans: Car Loan
Our car loan is available to salaried customers to purchase a car for personal use.
FEATURES
-Repayment period: Up to 72 months
-Minimum loan of KES 300,000
-Maximum loan amount depends on the customer’s ability to pay.
-Financing up to 90% of car value
REQUIREMENTS
-AA of Kenya/Franchise dealers valuation
-Copy of the log book of car to be purchased
-Copy of accepted sale agreement with proof of contribution
