How does the NCBA Group personal loan work?
NCBA Group offers an unsecured personal loan with amounts ranging from KES 1,000 to KES 1,000,000. Customers can apply for the loan conveniently and securely through the NCBA NOW mobile app or via the USSD code *488#.
Once approved, the funds are instantly credited to the customer’s account, ensuring quick access to credit. Repayment terms are flexible, ranging from three to 12 months, depending on the loan amount.
Who can apply for this loan?
To be eligible for the loan, you must meet the following criteria:
✔ Be an NCBA customer for at least six months
✔ Have an active personal current account
✔ Maintain a good transaction history on your account
✔ Demonstrate regular financial activity
Meeting these requirements allows you to apply directly through the available digital channels.
What fees are charged?
When applying for the NCBA Group personal loan, the following fees are applicable:
✔ Processing Fee: 4% of the loan amount
✔ Annual Interest Rate: 20.6% on the outstanding balance, calculated using the reducing balance method
✔ Credit Life Insurance: 0.08% of the loan amount
✔ Stamp Duty: 20% on applicable fees
These fees are deducted from the disbursed amount at the time of loan approval.
A piece of advice for you!
Before applying for a personal loan, it’s essential to carefully evaluate your actual needs and repayment capacity. Although the NCBA Group personal loan offers immediate solutions, it comes with financial commitments that must be honored on time, like any other line of credit.
We recommend reviewing your monthly budget, considering all your expenses and income, to ensure that the loan installments won’t compromise your financial health. Additionally, use credit responsibly, directing it towards essential needs or investments that may generate future returns.
Remember, maintaining a good relationship with your financial institution can open doors to better conditions for future credit operations. Therefore, honor your commitments and always strive for financial balance.
Start your NCBA Group personal loan application now!
If you meet the above requirements and want to take advantage of the NCBA Group personal loan benefits, don’t wait any longer! For more information and details about the process, visit the bank’s official website by clicking the button below!