Access to quick and flexible credit can often be the difference between stalled ambitions and life-changing progress.
Whether it is paying school fees, expanding a small business, acquiring an asset, or handling an unexpected financial emergency, timely financing has increasingly become an essential financial tool for many Kenyan households navigating today’s dynamic economy.
It is through this reality that financial institutions are rolling out tailored products to meet consumer expectations.
NCBA Bank is one of the lenders leading this transformation through its personal loan facilities. Under this financing option, borrowers can access both secured and unsecured financing.
NCBA personal secured loan
This facility is designed for customers seeking accessible financing tailored to their lifestyle and repayment ability.
According to the lender, the facility is designed to help customers acquire assets, meet personal goals, and manage pressing financial obligations through both secured and unsecured lending options.
Among the key features of the facility is flexibility in loan access, with borrowing available in Kenya Shillings, US Dollars, Sterling Pounds, and Euros.
Customers can access loans starting from Sh50,000, while the maximum amount is determined by an individual’s repayment capacity and verified income streams.
NCBA further notes that applicants can qualify using salary income or other reliable income sources, subject to verification through bank statements.
Interest is charged on a reducing balance basis, a structure that allows borrowers to gradually reduce the amount of interest paid as they continue servicing the loan.
For 34-year-old Nairobi entrepreneur Miriam Wanjiku, the loan facility provided critical support at a time when her business needed expansion capital.
“I had been planning to purchase additional salon equipment for months, but cash flow constraints kept delaying the investment. The loan application process was straightforward, and the financing allowed me to expand the business sooner than expected,” she said.
She added that the flexible repayment structure gave her confidence to borrow without disrupting the day-to-day operations of her business.
NCBA personal unsecured loan
NCBA’s unsecured personal loan offering is structured to cater to both employees whose organisations have agreements with the bank and individuals seeking independent financing without employer involvement.
Under the Check-Off Loan arrangement, employees of partner organisations can borrow between Sh50,000 and Sh6 million, with repayment periods of up to 96 months.
Monthly instalments are conveniently deducted directly through employers, easing the repayment process for borrowers.
For individuals seeking greater independence, the Non-Check-Off Loan provides financing of up to Sh5 million without the need for collateral or employer guarantees.
The facility is available to salaried customers who have maintained an active NCBA account for at least six months, with repayment terms extending up to 60 months.
A key attraction of the facility is its flexibility. Customers can borrow in Kenya shillings, US dollars, Sterling pounds or Euros, provided their income matches the chosen currency.
The loans also come with Credit Life and Retrenchment Insurance, offering protection in cases such as retrenchment, accidental permanent disability or accidental death.
The bank also provides a balance transfer option, allowing borrowers to consolidate loans from other financial institutions into a single repayment plan that is easier to manage and potentially more cost-effective.
Requirements to access NCBA unsecured personal loan
NCBA notes that customers interested in the unsecured personal loan facility must provide a valid Kenyan ID or passport, KRA PIN, recent pay slips, and a duly completed application form.
Employees applying for check-off loans are also required to provide an employer introduction letter.
Also Read: Why more employees are turning to NCBA salary account
