When your loan is fully repaid, the logbook is sent back via recorded delivery. Its a realtime mobile and web platform that enables those that want to do searches and verifications of legal documents in kenya such as ntsakra logbook search and verificationcar and vehicle registration search to do so with easily on their phone or. With several categories that cover just about every fathomable topic, we are your onestop online resource for kenyas life challenges. Log book loan in kenya up to 20 million from mwananchi credit. Offering a variety of loans including log book, civil servant, duty financing and mkopo kodi. Between 1993 and 1996, bbk divested its shares, selling 38% of its shares to the public in 1994. This loan can be used for any purpose and is ideal for people looking to expand their business, foray into new ventures or supplement the working capital cash flow deficits. People love to see cars as liabilities until they get into a fixture that required urgent funding. If you cannot get a normal loan or have nothing to sell, logbooks loans may be what you need.
If you do take one out, check that the lender is a member of a trade body and it complies with. Information regarding our loan product can be obtained at our website. Today i have 11 lenders who can give out loans against logbooks in kenya in less than 24hrs. These loans are typically processed in approximately 24hrs. Instant loans on items nairobi best lady centre opposite umoinner stage along ronald ngala street, nairobi, kenya, 953700300 rated 4. Loan amount depends on your repayment capabilities.
To replace a lost motor vehicle log book in kenya, you need the following documents. Mwananchi credit limited is the leading provider of logbook loans in kenya. Auto logbook loan car logbook loans are great solutions for quick cash, and they are fairly easy to obtain since your logbook acts as collateral for the loan. Or you can call us free from all landlines and mobiles and talk to one of our advisors. Meridian acceptance limited nairobi, kenya contact. Just deposit your log book with us and leave the rest to us.
A logbook loans works by exchanging your vehicles logbook v5 certificate for a predetermined amount of money, repaid over an agreed period. Apr 07, 2020 see more on how to borrow from saida loan app. The amount of money you can borrow depends on the value of your car vehicle and how much you can comfortably afford to repay the higher the value of your car, the more cash you can potentially borrow but you must be able to afford the cost of the loan repayments in order to have. Cars with loans cannot access logbook loans as the ownership is still not yet with the customer. The credit company then sends a loan agreement via email to its qualified clients for signatory purposes before disbursing the money through the traditional bank. Late or missed payments may incur a charge for chasing letters and telephone calls. Logbook loans in kenya and how to apply instantly kenyans. If you do take one out, check that the lender is a member of a trade body and it complies with a code of practice, specifically on logbook loans. Get a bridging loan against your salary to see you through the month. Open to anyone who can guarantee their loan with security, e. Two passportsized photos of the owner of the vehicle who should also be the loan applicant. Mwananchi credit limited is a leading provider of logbook loans in kenya. Enjoy an affordable, convenient and hasslefree auto loan that hands you the key to your dream car high loan amounts get the best with our high loan limit of up to kes 10m for new cars and 5m for used cars. The vehicle owner will be asked to produce the logbook v5.
If you intend to use the car with business models such as uber, for example, the car logbook may be required not to be transferred to another persons possession separate from you and this might bar you from accessing a logbook loan. No matter whats on your list, infohub kenya can help. Jan 24, 2020 the logbook loans in kenya are secured against the value of your car. A logbook loan is a great way to secure cash quickly or if you have been refused credit before and you are looking for a quick decision on a loan. Indeed, the successful expansion of financial services to include the lower income and unbanked sectors of the population has the ability to provide jobs, create safety networks, and ultimately have a hand in reducing poverty. While we do not want to speak on behalf of other providers of logbook loans in kenya, we at mwananchi credit can guarantee that we are priced at very competitive levels. Log book loans are secured against your car and available anywhere in the uk. Visit us at the fit xpress offices for your personalized car logbook loan solution. Samchi credit is regulated by the central bank of kenya. Logbook loans get logbook loans in kenya nairobi, mombasa. Get an unsecured 24hrs approved loan against your log book. The logbook loans in kenya are secured against the value of your car. Our quick logbook loans are easy to secure and are usually based on a. A log book loan is secured against your vehicle, which may.
Logbook loans in kenya have become popular as the need for credit continues to grow. Your repayment schedule can be on a weekly or monthly basis depending on your choice. Momentum credit can lend up to kes 5000000 to help you unlock trapped cash in your car within 24 hours to help. Were able to lend smaller amounts or larger sums up to 80% of the value of your car. All log book loans are subjected to a loan appraisal process.
The log book loan is a loan that is secured against the value of your car. Our online debt advice tool will provide you with the best solution to your debt problem. To qualify for an auto logbook loan a client must furnish africa credit limited with the following. This is a loan that you use your car logbook as security and get the agreed amount of money preferably 50% or less the value of your car.
Application for xi available here copy of idcertificate of incorporation business registration certificate a fee of ksh. Logbook loans can seem tempting if you need cash fast and have a poor credit rating, but there are always alternatives. Our products africa credit limited get upto ksh 500,000. Hours of research have gone into all the answers and solutions you find on our site.
The vehicle owner will be asked to produce the logbook v5 to prove they are the registered keeper of the vehicle. Due to the ongoing coronavirus pandemic and the governments social distancing instructions to help reduce the spread of the virus, we have decided to temporarily halt the. Loans secured against cars vehicles use a document called a bill of sale. Apr 30, 2020 when taking out a logbook loan, the logbook is held and owned by the lender until the loan is repaid. A logbook loan is a convenient way of borrowing money that uses your car or vehicle as security using cars as security against loans can allow you to get better interest rates compared to some other forms of credit. Between 1993 and 1996, bbk divested its shares, selling 38% of its shares to the. When applying for this type of loan, youll need the following documents. The amount is then payable in an agreed amount of time for example 6, 12, 18 or up to 24 months. Borrow up to 70% of the trade value of your car and receive your logbook loan within hours of being approved.
This loan can be used for any purpose and is ideal for. Some people choose to sell items around their home that they may not be using anymore, and others go to a financial institution to get a loan. Expiry duration of all inspection bookings from 16th march were adjusted to expire on 30th may, 2020. The lenders offices are located at 1st floor,methodist centre,loitoktok road,nairobi. We offer asset finance, bid bonds, logbook loans, loans on title deeds. This means that you can access some money by leveraging your vehicle logbook as security.
Logbook loans cash logbook loans secured against all. This, according to mr macharia, is to know your customer requirements as set by the central bank of kenya. A bill of sale allows you to keep possession of your car while you repay the loan the lender. Milhan access capital affordable logbook loans in kenya. Personal or business bank statements for 6 months a copy of the clients national identity card or passport to be certified against the original by africa credit limited. Depending on the loan amount, period and the vehicle you wish to purchase, the annual percentage rate ranges from 30.
A loan offered to individuals against security accepted by kcb e. How to replace a lost, filled up or defaced log book in kenya. A log book loan is secured against your vehicle, which may be repossessed if you do not make payment. Nic became a public company in 1971 and is currently quoted on the nairobi stock exchange with approximately 22,000 shareholders. Logbook loans are when you deposit your logbook with a financier as collateral for a loan most which is offered quicker than in other banking institutions. Offering a variety of loans including log book, civil. Aar credit services ltd gives loans with car logbooks as collateral. When taking out a logbook loan, the logbook is held and owned by the lender until the loan is repaid. If youre struggling to make the payments to a log book loan, contact us for free, confidential debt advice. Meridian acceptance limited nairobi, kenya contact phone. Car cash point logbook loan release cash from your. Car logbook loan requirements fit xpress kenya quick.
Car logbook loan requirements fit xpress kenya quick car. Access salary advance, title deed loans, import duty finance. Logbook loans logbook money v5 loans log book loans. Pickups whose dimensions do not fall within the category specified by law warned against displaying. Data from the central bank of kenyas credit survey released yesterday showed the local banking sectors loan book growth had shrunk by 0. Logbook loans cash logbook loans secured against all vehicles.
This kind of loan is subject to a loan appraisal process. Momentum credit can lend up to kes 5000000 to help you unlock trapped cash in your car within 24 hours to help meet your personal and business financial needs without selling your car. Check out the minimal requirements needed to get you easy car logbook loan. Quick car logbook loans are now easy to get courtesy of fit xpress kenya. We specialise in providing cash to you, our clients, fast whenever you need it so that you can achieve your goals. Well fincredit allows you to pledge your car as security for a loan of up to 12 months. The loans provided through mobile money are secured against cars from. We offer log book loans in kenya as a form of financing whereby the loan advance is secured against the borrowers car. Its a quick and simple way to withdraw cash from a vehicle, without a formal credit check. The exciting aspect about our product is that we also allow a third party logbook with a signed consent from the owner. By filling in the form below, we will match you with the best and cheapest secured auto logbook loans provider in kenya. We are located in the cbd on the 6th floor of townhouse. Initially trading as mwananchi microlink ltd from 15th april 2010, it officially changed names to mwananchi credit limited on 10th january 2012. Documents required for loan processing are scanned or sent via email.
These loans will give you a chance to get money very, very quickly. A logbook loan is a loan secured against any vehicle, for example getting a loan against your car. It comes in handy when you dont have enough funds to pay for electricity. Development of africas banking and finance sector has the potential to transform the lives of millions across the continent. Thanks to the many creditors in kenya today, you can get your logbook loan almost immediately after application.
A car logbook loan is a loan that is secured on your car logbook. Once the loan is disbursed, the log book is kept by samchi credit limited and is transferred back upon. Car logbook loans are great solutions for quick cash, and they are fairly easy to obtain since your logbook acts as collateral for the loan. Lenders abide by the ccta voluntary code of practice. Due to the ongoing coronavirus pandemic and the governments social distancing instructions to help reduce the spread of the virus, we have decided to temporarily halt the provision of logbook loans. Read 3 real time title loan givers in kenya there are a lot of tedious procedures before accepting a title as collateral for example hiring valuers, physical land visiting among others. The question is which lenders easily accepts land title deeds. With several categories that cover just about every fathomable topic, we are your onestop online resource for kenya s life challenges. This loan can be used for any purpose and is ideal for people looking to expand their. Indeed, the successful expansion of financial services to include the lower income and unbanked sectors of the. The minimum loan amount is ksh 100 and a maximum of ksh 2000 at an interest.
Once the loan is disbursed, the log book is kept by samchi credit limited and is transferred back upon repayment of the loan. Milhan access capital offers affordable logbook loans in kenya among other loan products. Bcf kenya bcf kenya gives up to 50% the value of the car and repayment is up to 12 months. Description microfinance institutions that offer loans to individual working through our our own banking branches and partner located all over kenya. Copy of id for kenyan directors and valid passport for non citizens. In kenya the law allows legitimate owner of a valued land title deed to borrow a loan against it.
Ronald ngala street, nairobi, kenya, 00100 rated 4. While we do not want to speak on behalf of other providers of logbook loans in kenya, we at mwananchi credit can guarantee that we are priced at very. In kenya, mogo provides financing to passenger cars and logbook loans from 100,000 to 1,000,000 kenyan shillings for a period of 6 to 60 months. Okoa stima was founded by kenya power in partnership with safaricom in 2015 and is currently active. Logbook loans in kenya genuine providers in 2020 urban.
Aug 28, 2019 logbook loans in kenya have become popular as the need for credit continues to grow. Access quick cash using your log book in less than 24hrs. Barclays bank of kenya limited acquired 51% of nics total shares through the acquisition of mercantile in the 1970s and standards shareholding in nic in the 1980s. Auto logbook loans are great solutions for quick cash, and they are fairly easy to obtain. Logbook loans uk online same day payouts auto advance. The range of the loan amount that can be borrowed is from kshs.
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