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Offers opportunity to overdraw the account up to an approved limit. The limit remains active for a duration of up to 12 months.

Benefits

Flexible Tenue

The limit is available for usage up to 12 months.

Flexible Collateral Requirement

Secured through legal charge or cash cover.

Renewal

Automatic renewal if operated within the approved limits.

What We Need From You*

  • Business proceeds to have been channeled through KCB account for a minimum 6 months or 12 months statement from where you are currently banking.
  • Complete SME loan business application Form.
  • Colored passport photo.
  • Business license or permit where applicable.
  • Copy of collateral provided.
  • Three years financial books of account for amount above Kes 5M.

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).
  • Third party charges: valuation for used asset, security perfection, Guarantee, insurance etc.: based on agreement between customer and service provider.

Interested in Permanent Overdraft or have a question?

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