Boda Boda Tuk Tuk Loan

Loans aimed at financing purchase of Boda Bodas (motorcycles) and Tuk Tuks

Benefits

  • Comprehensive Insurance per annum of Kshs 9,600.00 for Boda Bodas and Kshs 15,000.00 for Tuk Tuks
  • Tuk Tuk loan offers
    • Loans up to 90% of the purchase price (Max 5,000,000 plus insurance) with repayment period of up to 24 months.
  • Boda Boda loan offers
    • Loans up to 90% of the purchase price (Max 5,000,000 plus insurance) with repayment period of up to 24 months.
    • Special price offers from dealers
    • Motor service available at dealers
    • Comprehensive insurance cover for both Tuk Tuks and Boda Bodas
*Customers guaranteed by group FDR to contribute 10%

Qualifying Criteria

  • An active account with any business institution where business proceeds are remitted for at least 3 months.
  • Capability to service required monthly instalments
  • Profoma invoice from motor cycle and Tuk Tuk dealers
  • Valid driving license of the rider/driver
  • Funds disbursed direct to the dealers' accounts

Rates and Fees

  • Interest rate of 13% (CBR rate 9% plus Bank Variable margin of 4%)
  • A one off loan negotiation fee charged upfront at 3% of the loan amount
 
 


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