Below is a list of loans offered by National Bank of Kenya, features and interest:
List of Loans for you, features and how to apply for the loans
Unsecured Loan
Rates and fees
- Loan amount – minimum of KSh 50,000 and maximum of KSh 6,000,000
- Interest Rate – CBR + Bank Margin % p.a reducing balance.
- Tenure – minimum of 6 months and a maximum of 84 months
- Negotiation fees – 2% for new loans and buy offs; 1.5% for top-ups
Internal costs
- Appraisal fees
External costs
- Excise duty
- Risk margin (insurance against retrenchment and death)
Cash-backed Car Loan
Rates and fees
- Financing – 100% of the value of the car
- Tenure – 60 months for a new car; 48 months for a used car
Internal costs
- Negotiation fees
External costs
- Comprehensive insurance cover for Car
- Group life cover
- Valuation fees
- Car tracker charges
- Registration/logbook transfer charges
- Chattels mortgage over the asset in favor of the bank
Residential Mortgage
Rates and fees
- Loan to Value ratio – maximum 90%
- Interest Rate – CBR + 4% p.a.
- Tenure – maximum 25 years
- Negotiation fees – up to 1.5% of loan amount
Internal costs
- Negotiation fees
External costs
- Mortgage Protection Insurance (MPI)
- House Owners Comprehensive Insurance (HOCI)
- Valuation fees
- Stamp duty on transfer
- Stamp duty on charge
- Legal fees
- Search fees
- Statutory payments (land rates, rent and all taxes)
Residential Plot Purchase
Rates and fees
- Loan to Value ratio – maximum 70%
- Interest Rate – CBR + 4% p.a.
- Tenure – maximum 10 years
- Negotiation fees – up to 1.5% of loan amount
Internal costs
- Negotiation fees
External costs
- Mortgage Protection Insurance (MPI)
- Valuation fees
- Stamp duty on transfer
- Stamp duty on charge
- Legal fees
- Search fees
- Statutory payments (land rates, rent and all taxes)
Mortgage Top Up
Rates and fees
- Loan to value ratio – maximum 90%
- Interest Rate – CBR + 4% p.a.
- Tenure – maximum 25 years
- Negotiation fees – up to 1.5% of loan amount
Internal costs
- Negotiation fees
External costs
- Mortgage Protection Insurance (MPI)
- House Owners Comprehensive Insurance (HOCI)
- Valuation fees
- Stamp duty on charge
- Legal fees
- Search fees
- Statutory payments (land rates, rent and all taxes)
Equity Release
Rates and fees
- Loan to value ratio – maximum 80%
- Interest rate – CBR + 4% p.a.
- Tenure – maximum 25 years
- Negotiation fees – up to 1.5% of loan amount
Internal costs
- Negotiation fees
External costs
- Mortgage Protection Insurance (MPI)
- House Owners Comprehensive Insurance (HOCI)
- Valuation fees
- Stamp duty on transfer
- Stamp duty on charge
- Legal fees
- Search fees
- Statutory payments (land rates, rent and all taxes
Residential Construction Mortgage
Rates and fees
- Loan to value ratio – maximum of 90% of bill of quantities amount
- Interest rate – CBR + 4% p.a.
- Tenure – maximum of 25 years
- Negotiation fees – up to 1.5% of loan amount
Inernal costs
- Negotiation fees
External costs
- Mortgage Protection Insurance (MPI)
- Contractors All Risk Policy during construction
- House Owners Comprehensive Insurance (HOCI) upon 100% completion
- Valuation fees
- Stage inspection fees
- Stamp duty on charge
- Legal fees
- Search fees
- Statutory payments (statutory approvals for architectural and structural drawings, land rates, rent and all taxes)
- Technical consultants fees
Special Scheme Residential Mortgage
Rates and fees
- Loan to value ratio – Up to 100% (subject to MOU terms)
- Interest rate – negotiated rate
- Tenure – maximum of 25 years
- Negotiation fees – negotiated
Internal costs
- Negotiation fees
External costs
- Mortgage Protection Insurance (MPI)
- House Owners Comprehensive Insurance (HOCI)
- Valuation fees
- Stamp duty on transfer
- Stamp duty on charge
- Legal fees
- Search fees
- Contractors All Risk Policy during construction
- Stage inspection fees
- Statutory payments (statutory approvals for architectural and structural drawings, land rates, rent and all taxes)
- Technical consultant’s fees
USD & GBP Denominated Residential Mortgage
Rates and fees
- Loan to value ratio – up to 90%
- Interest rate – USD at 10.5% p.a. / GBP at 9% p.a.
- Tenure – maximum of 10 years
- Negotiation fees – up to 1.5% of loan amount
Internal costs
- Negotiation fees
External costs
- Mortgage Protection Insurance (MPI)
- House Owners Comprehensive Insurance (HOCI)
- Valuation fees
- Stamp duty on transfer
- Stamp duty on charge
- Legal fees
- Search fees
- Contractors All Risk Policy during construction
- Stage inspection fees
- Statutory payments (statutory approvals for architectural and structural drawings, land rates, rent and all taxes)
- Technical consultants fees
List of loans for business, how to apply and features
SME Business Loans
What We Need From You*
- Demonstrate your ability to repay the loan
- Demonstrate that you have a minimum of two (2) years in business
- Credit Life Insurance against death & permanent disability
*A bank representative may call you at any time to obtain further information in line with our KYC process. At no point shall you be asked for your PIN or passwords. Remember, PIN yako siri yako.
Loan Rates & Fees*
- Interest rate – 13%
- Negotiation fee 3%
- Maximum repayment period of 12 months
Jenga Biashara Loan
What is required
- One year business operation
- 12 months statement for non-National Bank customers
- Business permit and certificates
- Business records
Rates and fees
- Interest rate – 13% (CBR rate 9% plus Bank Variable margin of 4%)
- Application fee – 3%
- Credit life and Stock loss insurance cover – 1% of the approved loan amount
Jenga Chama Loan
What is required
- Group must be at least one year old
- 12 months statement for non-National Bank customers
- Group Registration certificate
- Group Constitution
Rates and fees
- Borrow up to KSh 50 Million
- Repayment period is up to 72 months
- Low interest rate on reducing balance
List of Loans for Corporates
Trade Finance
When tendering to provide goods/services to procuring entities or after award of the contract tendered, we offer our undertaking to the procuring entity on your behalf to cover the risk of non-payment or non-performance.
This is be offered through various types of guarantees:
- Tender/Bid Bonds
- Advance Payment Guarantees
- Performance Bonds
- Supply Guarantees
- Customs Bonds
- Warranty/Retention Bonds
- Credit Guarantees
- Shipping Guarantees
Required:
- NBK guarantee application form
- Board Resolution/letter of request
- The format/ wording of the Letter of Guarantee (if applicable)
- An approved Guarantee line of credit/credit appraisal
Turnaround time for processing bid/tender bonds and cash covered guarantees is 1 Hour subject to internal approval of each request.
Cost:
- 1% flat for Bid Bonds
- 2% per annum for Other Guarantees
Letters of Credit
Let us partner with you by issuing Letters of Credit to your local or international supplier thereby guaranteeing payment of the goods supplied so long as all the specific terms of the transaction are met.
Required:
- NBK LC application form
- Proforma Invoice/Sale contract
- Insurance cover or marine cover
- Approval of the LC line of credit or cash equivalent
Bill, Invoice and Certificate Discounting
We offer short term loans by advancing funds against an accepted Bill, invoice or Certificate for the services provided or goods supplied to reputable companies.
Post Import Finance (PIF)
After importation of capital-intensive assets for your business, we offer you an PIF loan that allows you to make flexible repayment plans that favors your cash flows. This product eases you from the requirement of making a one-off payment for the asset(s) purchased.
Pre-shipment financing
Looking to export? Simply provide proof of an order for your products and we will facilitate the financing needed for the shipping of your goods.
Supply chain Financing
We provide short-term credit to optimize your working capital and provide liquidity for your business. This product allows you to get access to funding for valid purchase orders from reputable institutions.
Collateral Finance Arrangement/Collateral Management Arrangement
We support Oil Marketing Companies in their stock purchase under the Open Tender System either as tender winner or off-taker.
For other commodities, we support you by providing you with a stock financing facility which is tailor made to allow you to purchase the stock while holding it as collateral under a bank’s appointed collateral manager.
The customer bears the collateral management fees and other incidentary costs.
Structure Trade Finance
We offer varied structured solutions tailor made to suit your unique business needs. This is offered within any business sector i.e. Manufacturing, oil, gas, energy, agribusiness, and telecommunication.
Short Term Financing
Working Capital
Sign up for a Working Capital loan and let us help you meet your day-to-day financial obligations while you work towards growing your business.
How we support your business:
- It frees up-cash held in our corporate customer sales ledger
- It helps even out cash flow fluctuations caused by everyday expenses or unexpected financial demands
- It allows you to plan ahead, while supporting your current business obligations and future growth objectives
Overdraft
Access flexible and convenient funding for your business, without having to go through demanding processes or being tied to repayment dates.
How we support your business
- Convenient and simple to acquire and monitor through account statements
- Minimizes customer finance costs as interest is only payable on the amount that is borrowed
Asset Finance
Stay ahead of the curve with our Asset Finance product, allowing you to easily acquire assets for your business and boost your efficiency and productivity.
How we support your business
- Enables your business to preserve capital and generate income from new assets while paying for them
- Provides flexible repayment plans enabling you to match repayments to your cashflow cycles and streamline finances
- Alleviates the risk and responsibility of ownership of the assets being financed
Term Loan
Enjoy our flexible financing option that allows you to take out a tailored loan, specific to your business needs.
How we support your business
- Provides funding for a range of business needs, such as consolidation of existing debt or purchase of assets to enable growth.
- Gives you a flexible repayment structure and the option to take capital repayment breaks so that payments can be matched with income.
- Supports solutions through project financing structured to have disbursements in stages of project development, and repayments from proceeds of the project at hand.
Diaspora Loans and Mortgages
Diaspora Mortgage
ligibility Criteria:
- One must be Kenyan
- One must be gainfully employed in their resident country.
- One must demonstrate the ability to repay.
*All Loans are at prevailing market rates.
At National Bank, we partner with you in your efforts to own a home in Kenya. Working with our various partners in the real estate market, we will work to give you options on different properties available in the market. The available financing options are:
Outright Purchase
Kenyans abroad can get financing to purchase developed property in Kenya. This, for personal customers, is limited to residential property.
Plot Purchase
Kenyans abroad can purchase plots for development with financing from National Bank.
Equity Release
Customers can use a property that they own in Kenya as collateral to access funds for other local investments (Within Kenya).
