List of Faulu Kenya Loans

In today’s article, we are going to discuss in detail the list of Faulu Kenya Loans.

Faulu Microfinance bank is an Old Mutual Group Subsidiary operating in Kenya. Currently, Faulu Kenya is the top best microfinance bank in Kenya with over 25 years in operation.

As a testament to it being the best, Faulu Bank Kenya has over 67 service outlets all over Kenya.

Faulu Bank Kenya, therefore, offers a wide array of services to its customers ranging from banking, savings, insurance, investment, as well as loans.

However, the main difference between Faulu bank and other Microfinance banks is that it offers all its products with a special focus to communities.

Our Key focus today is to discuss the various loan products offered by Faulu bank to its customers in Kenya.

Top List of Faulu Kenya Loans

Here are the various types of loans offered by Faulu Kenya. Faulu Kenya loans are divided into three major categories.

  1. Consumer/ retail loans
  2. Microloans
  3. Business/SME loans

Let’s look at each loan category in detail.

  1. Consumer/retail loans

Faulu Kenya consumer loans are targeted to individual customers. These loans are as listed below.

Corporate check off Loan

This is a salary backed loan whose terms are dictated by the agreement that Faulu bank has with the institution you are working for.

Features of this Loan include:

  • The corporate check off a loan can be repaid up to 84 months
  • One can access between Kshs 10,000 to Kshs 3,000,000

Tamba Imara Loan

If you work in institutions such as NGOs that Faulu Kenya does not have an MOU of understanding, you can still secure a loan from Faulu Kenya loans. The Tamba Imara Loan is the loan facility for you.

With this loan facility, you will experience affordable pricing as well as a flexible repayment period.

Check Off Loan

This loan facility offered as part of Faulu Kenya loans is offered to TSC employees, disciplined forces, civil service, as well as parastatals.

Benefits of this loan

  • up to 84 months repayment period
  • You can top up your loan in case you need to
  • One can access between Kshs 10,000 to Kshs 3,000,000

Okoa Mteja Overdraft

Faulu Bank Kenya understands that it is inevitable to get money emergencies. This loan facility is directed towards helping you face your money emergencies with ease.

Features

  • One does not need security to access this loan
  • You can access up to 30% of your net salary as a loan amount
  • Repayment is done in one lump sum repayment
  • Processing is done instantly

2. Microloans

Microloans rank second on the list of Faulu Kenya Loans. They are available to small businesses as well as Chama groups. Under this Faulu Kenya loan category, there are various subcategories of loans.

Chama Loan

This loan facility is extended to both informal and informal groups. Its features include:

  • The repayment period is up to 72 months
  • One can access up to Ksh 300M from 50K
  • If you are a member of a group, you can access this loan facility alone

Group Business Loan

Self – help groups have this loan facility specifically made for them.

Features

  • Collateral options can be discussed
  • The group can be able to access multiple loan facilities upon approval
  • The repayment period is between 3months and 24 months
  • Loans amounts range from Kshs 5,000 to Kshs 500,000

Nafaka Loan

if you are a farmer, this loan enables you to finance your farm inputs.

Features of this loan

  • Payment period is dictated by the crop cycle
  • One can borrow up to Kshs 3,000,000

Green gold

Green gold is a Faulu Kenya loan specifically made for tea farmers.

Benefits of this loan facility

  • Repayment periods are structured according to bonus payment periods
  • one can access up to 75% of total amount of bonuses earned in 3 years
  • Tenure for this loan is up to 12 months

Maziwa Loan

If you are a dairy farmer and you would like to purchase another one, Faulu Kenya, has this loan for you.

Features

  • Repayment is based on milk remittance cycle
  • The tenure for the loan is up to 36 months
  • You can access up to 3,000,000

3. Business/SME loans

Faulu Kenya Loans also include tailor-made business loans made specifically for business owners. These loans include,

Asset Finance

The asset finance loan is here to help you buy a motor vehicle, machinery, trailers or trucks.

Top features of this loan include:

  • The turnaround time is very quick
  • One can access up to Kshs 100M
  • The repayment period for this loan is up to 60 months.
  • Individuals have access to this loan as well as small and medium enterprises

Faulu Landlord loan

Some of us have a piece of land that they have been looking to develop but lack the funds. This loan by Faulu Kenya is here to help you achieve this.

This loan has a flexible repayment period.

Biashara SME loan

If it’s about time for you to grow your business, then this is the loan for you to take. It has various trade finance solutions such as performance bonds, LPO financing as well as bid bonds.

Insurance Premium financing

If you are planning to take insurance covers for your SME, but it seems too expensive. Faulu Kenya will finance your insurance premiums for you.

This loan can be repaid within 10 months and one can access up to Kshs 500,000.

Ushirika Loan

Sometimes churches need financing to further on the development of the work of God. If this is the case, Faulu Bank has a loan facility for them.

The features of this facility are:

  • 2 months grace period
  • Can access up to Kshs 20M
  • Loan facility available to churches

Faulu Kenya Loans – Conclusion

As seen above, Faulu Kenya has a wide array of innovative loan products to its customers. If you have been looking for a place to secure a loan from, check them out. I promise you will not be disappointed with their services.

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