1. What are the features and benefits of our personal loan?
a) It is Easy:
No tangible security required
Flexible repayment period of up to 72 months*
Convenience and easy access; service at your doorstep.
b) It is Fast:
Quick loan processing and disbursement
c) It has Added Value:
Embedded Credit Life (death and Disability) & Retrenchment Insurance cover
d) It is in line with your needs
Higher loan amount of up-to Kes 4,000,000*
All these benefits at very competitive rates
* Terms & Conditions Apply
2. What are the loan requirements?
At loan application, you will need to provide the following documents to facilitate processing of your facility
Original and copy of ID / passport
Last 6 months bank statement (non-NIC Bank customers)
Proof of income
Original and copy of KRA Pin certificate
Original and copy of utility bill (residential address confirmation)
Introduction letter from employer on company letterhead (salaried)
3. I have a loan with another financial institution, can you advance me a loan and take over the existing facility?
Yes we can. We do have a balance transfer facility meaning that we pay off a loan that you have with another bank and advance you more money subject to repayment capacity.
4. Do I have to have an account with NIC Bank to apply for a credit facility?
No, we do however recommend that you open an account with NIC Bank to enjoy our wide range of banking solutions.
If your employer has an arrangement with NIC Bank for check off which is a direct deduction of the loan repayment from your salary account, you do not need to open an account to take up a loan.
If your employer does not have an arrangement with NIC Bank for check off, you will need to open an account with us and channel your salary to the Bank to facilitate loan repayment. We can reprocess your loan after sighting one salary credit into your account.