Personal loan

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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. No security is required for this loan.

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

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