From facing unplanned emergency expenses to urgent large purchases, there are cases where you will find yourself in need of immediate funding. When there's nowhere else to turn to, applying for a personal secured loan can be one of your best options.
The KCB Personal Secured Loan, especially, is one of the many financing options you might want to check out. Unlike other loan deals, this program comes with its own distinct set of benefits.
From competitive rates to favorable repayment plans, there are several good reasons why you should give this secured personal loan a try. To help you know whether this offer is the right deal for you, we have prepared a brief guide.
KCB Personal Secured Loan: Benefits
When it comes to features, the KCB Personal Secured Loan considers its competitive rates and repayment plans as its main selling points.
Specifically, under this program, customers can enjoy flexible repayment plans that extend up to 72 months. Loan limits are also dictated by the maximum value of the given security by the loan customer. The interest rate could score as low as 13%.
KCB Personal Secured Loan: How To Apply
Applying for KCB Personal Secured Loan is pretty simple. In fact, the deal is open to both salaried and self-employed individuals who have an active KCB account for a minimum of three months.
Since the deal operates as a secured loan, interested applications must pledge some of their assets as collateral, including title deeds, logbooks, share certificates, and more.
To apply, the bank requires you to submit three documents: your valid Kenyan ID or passport, your latest original payslips, and your proof of source of income if you’re a self-employed individual.
Once you’ve secured all these files and met all the imposed standards, you can proceed by visiting the nearest KCB branch in your area.
Simply ask for an application form, and provide all the needed details. Once done, submit your application along with the needed documents and wait for instructions. To locate the nearest branch within your vicinity, simply click on this link.
KCB Personal Secured Loan: Fees And Charges
When considering any loan, it is important to consider the applicable fees and charges. To make sure you are aware of all of the charges involved with this loan, it is best to contact the bank. However, some of the fees are listed below.
- Interest rate - 13% (CBR rate of 9% plus Bank variable margin of 4%)
- Negotiation fees - 2.5%
KCB Contact Information
Want to know more about the KCB Personal Secured Loan? You may reach out to KCB bank by calling +254 (732) 1870001 or email them at contactcentre@kcb.co.ke You may also choose to visit them at their head office located at Kencom House, Nairobi, Kenya.
The Bottom Line
Is this personal secured loan the right borrowing option for you? Learn even more about the deal. Reach out to the bank, weigh in the pros and cons, and talk to your financial adviser today!