Sidian Bank Kenya list of loans, application requirements and interest rates

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Sidian Bank is one of the best banks in Kenya to take a loan from. Their interest rate is low and loan amount is processed within 24 to 48 hours.

Micro Finance Individual Loans

Eligibility Criteria

  • Customer to maintain an active account with the bank for at least six months.
  • Customer to have serviced their previous loans without default.
  • Maximum repayment obligation of Net Household Income (NHI).

Target

Microenterprises in a business operated for at least 24 months.

Loan Amount

  • Minimum of KES. 300,000.00 except for repeat customers.
  • Maximum of KES. 3,000,000.00

Loan Disbursement

Loan installments to be booked on a weekly or monthly basis as per client’s request.

Collateral

  • The borrower provides cash collateral of at least 10% and the rest to be fully secured by tangible security.
  • Stock hypothecation supported by all risk insurance with the bank as a 1st loss payee to the extent of the borrowing. (Offered Sidian Insurance Agency)

Loan Tenor

  • 24 months

Pricing

  • Interest – Risk based pricing
  • Appraisal and disbursement fees at 3% and KES. 1,000.00 chattel registration.

Chama Biashara Loan

Target Customer

Customer to maintain an active account with the bank for at least six months. Serviced their previous loans without default.

Maximum repayment obligation of Net Household Income (NHI).

Collateral

  • 20% cash collateral prior to application and disbursement.
  • The customer must maintain an active account with the bank.
  • Amounts above KES. 1,000,000.00 shall be secured using cash collateral, fully charged log books and title deeds.
  • Stock hypothecation supported by all risk insurance with the bank as a 1st loss payee to the extent of the borrowing. (Offered by Sidian Insurance Agency)

Loan Tenor

  • Maximum 24 months.
LoanTenorAmount
1st6 MonthsMaximum KES. 300,000.00
2nd12 MonthsMaximum KES. 450,000.00
3rd18 MonthsMaximum KES. 700,000.00
Next24 MonthsMaximum KES. 3 Million

 Loan Amount

  • Minimum of KES. 20,000.00
  • Maximum of KES. 3,000,000.00

Loan Disbursement

Loan installments to be booked on a weekly or monthly basis as per the client’s request.

Pricing

  • Interest at the prevailing market currently at 13%
  • Appraisal and disbursement fees at 3% and KES. 1,000.00 chattel registration.

Asset Finance

Up to KES. 5,000,000.00

Features

  • Up to 95% financing
  • Client contribution of 20% to be held by the bank throughout the process of purchase
  • Operational Till/Paybill number.
  • An active account held at Sidian Bank (not less than six months)
  • 12 months of statements from the previous bank
  • Transfer of NHIF and insurance proceeds. (for hospitals)
  • 3% Facility Fees
  • 1.5% annual renewal fees

Collateral

  • Chattels mortgage over business assets and machines to be bought.
  • Debenture on the asset being financed

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