Loans

Finding the Right Loans App in Kenya for Your Financial Needs in 2024

In recent years, the financial landscape in Kenya has experienced a significant transformation, largely driven by the rapid adoption of mobile technology and digital financial services. Among the myriad of innovations, loans apps have emerged as a popular and convenient solution for individuals seeking quick and accessible financial assistance. These apps offer a range of […]

Loan Apps

Types of check-off loans

In Kenya, check-off loans are a type of loan provided by an employer to an employee, with the loan payments being deducted directly from the employee\’s salary. The employer acts as a facilitator of the loan, as they are responsible for deducting the loan payments from the employee\’s salary and forwarding the payments to the

Loan Collateralization

what is a collateralized loan? Usually, when applying for a loan you personally guarantee its repayment in full. This includes putting your assets in line to cover the loan in case of a default. This is called collateralization of the loan. Collateralization is the act of using an asset as a security for a loan.

Loan Collateralization

SECURED LOANS

Kenya’s finance sector offers a lot of loan products. Secured loans are those that have collateral—an asset the debtor promises as collateral for the loan—as its backing. If the borrower defaults on the loan, the lender may seize the security to recover their losses. Collateral acts as an assurance that the loan will be returned.

Unsecured Loans

Traditionally, well-to-do individuals were the ones who had access to loans to either expand their big businesses or build a karental on that piece of land bought when Kenya was still learning to sit. Loans were synonymous with portly (retired) civil servants who had nothing better to do. That tradition is dead, and in its

6 Factors that Affect Loan interest rate in Kenya

Interest rates play a crucial role in the economy, as they affect the cost of borrowing and can influence economic activity. In Kenya, as in other countries, there are several factors that can affect interest rates on loans, including inflation, economic conditions, competition, central bank policy, credit risk, and foreign exchange. Inflation Inflation: Inflation is

Interest rates in Kenya

Types of check-off loans

In Kenya, check-off loans are a type of loan provided by an employer to an employee, with the loan payments being deducted directly from the employee’s salary. The employer acts as a facilitator of the loan, as they are responsible for deducting the loan payments from the employee’s salary and forwarding the payments to the

Check Off Loan

What is a check-off loan? A check off loan is a type of loan provided by an employer to an employee, with the loan payments being deducted directly from the employee’s salary. The employer acts as a facilitator of the loan, as they are responsible for deducting the loan payments from the employee’s salary and

Check off Loan

How to Apply for a Loan in Kenya

Applying for a personal loan in Kenya can be a useful way to borrow money for a specific purpose, such as consolidating debt, paying for a major purchase, or financing a home improvement project. Here is a comprehensive guide on how to apply for a personal loan and the documents you will need to provide

What you need to know about Personal loan borrowing

Personal loans are short-term loans taken by a borrower and are usually repaid on a monthly basis. They are usually unsecured and don’t need collateral for them to be issued. Personal loans are normally for amounts from about 1,000 up to 100,000 with repayment terms from one to twenty-four months depending on the monthly charges

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