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Funds granted to customer against deposited cheque not yet processed and cleared by the Bank.

Benefits

Convenience

70% value of the cheque is granted to customer pending processing and clearance.

Speedy Processing

Funds processed within the shortest time by respective KCB Branches.

Flexible Collateral

No collateral required as funds are granted against the cheque.

What We Need From You*

  • Evidence of previous cheques paid successfully.
  • Complete SME loan business application Form.
  • Colored passport photo.

Identification Documents*

  • Individuals: ID original, KRA Pin.
  • Enterprises: Certificate of registration, ID original, KRA Pin for the owner Limited Company: certificate of incorporation, company pin, Board resolution authorizing borrowing, director’s ID &PIN, Memorandum & Articles of Association {CR1,2,8 &12} and company Search.

Rates & Fees*

  • Pricing: Risk based pricing i.e. Banks variable base rate {currently 15.6%} plus a risk margin.
  • Credit Life: 0.34% per annum of the loan advanced by the bank for an individual borrower (Single life) and an additional 0.18% per annum for each additional joint borrower (Joint life).

Interested in Drawing Against Uncleared Effect (DAUE) or have a question?

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