Types Of Loans At Kenya Women Finance Trust (KWFT)

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Kenya Women Finance Trust (KWFT) is a financial institution dedicated to meet the needs of women and girls. So in today’s article, we will discuss the aspects that make Kenya Women Finance Trust (KWFT) be  Africa’s leading financial institution.

What is the Kenya Women Finance Trust (KWFT)?

Are you a woman or girl who has been struggling to get an understanding financial Institution?

If the answer to the above question is ‘YES’ then you have been in wrong business forums.

This is because, for the last 38 years, Kenya Women Finance Trust (KWFT has been empowering women and girls through affordable loans.

Kenya Women Finance Trust Bank does realise that women and girls have been excluded in the financial economy for long.

And as such, Kenya Women Finance Trust did provide financial solutions that are different from existing ones.

It’s important to note that 80 per cent of KWFT’s clients is based in rural areas.

And KWFT is now found in 45 of the 47 devolved counties.

Most importantly, KWFT is a microlending financial institution.

KWFT that gained deposit-taking rights in 2010 from the Central Bank Of Kenya.

So, women and girls, you have no reason not to visit the nearest KWFT branch and ask for financial partnership.

Before we talk of asking for financial support, you will first need to open an account with KWFT.

Read Also Micro-finance Institutions In Kenya

Opening an Account at (KWFT)

  1. First, you need legal identifying documents like a passport or an I.D card.
  2. And since KWFT is committed to economic empowerment of women and girls,  a  man who likes to open an account at KWFT should partner with a woman as an entry point.e
  3. Then fill an account opening form manually at the nearest KWFT branch.
  4. Or you can open a KWFT account online via this link Account Opening At KWFT

KWFT Accounts

Savings account :

This account is specially designed for account holders to invest in their future or that of their loved ones.

Some of the types of savings accounts include :

  • Tausi junior account – Meant for parents to invest in their under 18-year-old children’s future through education.
  • Tausi Teen account – This is a financial savings product that parents open for their kids between 12-17 years to sharpen their saving skills.
  • Student account – Hey, there young ladies in colleges and higher learning institutions? The financial student saving account is specifically dedicated to the needs of ladies and young women in higher learning.
  • Inuka Transactional Account – This account needs no cash to open. It is designed for customers who require regular withdrawals of their savings.
  • Tegemeo Savings account – This account is meant for savers who voluntarily want to attain an aim in their endeavours that can only be achieved with a certain amount of cash.
  • Riziki Fixed Deposit Account – Customers who want to wish to have a saving intention that can only be achieved with a fixed deposit of cash, should look out for this. Once you deposit, you cannot withdraw until you meet your intended savings goal.
  • Call Account – For customers who have a short term project and want to save towards achieving the same may consider opening a call account.  This account has financial consultants to help the customers make a short term project.
  • Tujiunage Account – All the account members at KWFT who are in either a formal or informal groups, should feel honoured to open the Tujiunge account.
  • Inuka Salary Account – Finally, when it comes to saving, the salaried account holders cannot be forgotten. With the account of your choice ready, you may now think of accessing a loan at KWFT.

Types of ​Loans at Kenya Women Finance Trust (KWFT)

  1. Business Loans
  2. Emergency loans
  3. Education loans
  4. Consumer loans
  5. Nyumba smart loans
  6. Clean and Renewable smart loans
  7. Kilimo Bora Loans
  8. Water, sanitation and hygiene loans

1. Business Loans

This type of loan product at KWFT is specially designed for customers in business.

There are four types of loans under Business loans category being offered at Kenya Women Finance Trust ( KWFT). And they go as :

  • Biashara Loans – It facilitates women and girls in micro, small and medium scaled businesses to access financing to grow and expand their ventures.
  • SME loans – This loan is welcomed for large women-led enterprises that need capital to explore new markets or try out proven business models.
  • Asset financing loan – Both new and exciting women-led businesses can apply for asset financing loans to buy machines, tools, land and other tangible factors of production to try out business.
  • Chama Loan – And definitely, women in Chammas and other formal or informal groups have been considered for a loan at Kenya Women Finance Trust (KWFT). This loan type helps organised women meet their intended goals.

2. Emergency loans

Whenever women face an emergency, it can be psychologically devasting and also financially draining.

So, at Kenya Women Finance Trust (KWFT), women have been considered in times of accident s, drought, poor harvests, burglary, loss of animals and any other unforeseen emergency to women.

In times of emergency, women have to visit KWFT for a loan.

3. Education loans

Kenya Women Finance Trust Bank (KWFT), intended to see women excel in academics and learning.

As such, KWFT has a loan, specifically designed to help women pursue knowledge.

4. Consumer loans

When it comes to addressing the consumption needs of Kenya Women Finance Trust (KWFT )customers, two approaches are employed :

They are :

  • Phone loans – KWFT ensures that its members can get modern communication lifestyles that are on top notch through digital devices like phone loans. This is enabled by a phone loan that is affordable to its customers.
  • Salary Loan – KWFT also endeavours to ensure that its salaried customers can live a decent lifestyle by maximising on their salary benefits, which include using their payslip to get a loan.
  • Nyumba Smart Loan – A house is not just a basic necessity, but on the other side, it determines people’s social status.

And particularly to women, social status matters a lot. So on that note, Kenya Women Finance Trust has designed a fast loan called Nyumba (house) Smart Loan to enable women to own a home.

5. Clean and Renewable smart loans

Kenya Women Finance Trust understands that more than 80 per cent of its customer base is in rural areas.

For that matter, Kenya Women Finance Trust has designed a loan that ensures that activities of its rural-based customers who rely mostly on natural means to cook are eco-sensitive.

As such, Kenya Women Finance Trust has loans to enable its customers to access  eco-friendly stoves, solar, biogas, and electricity connection

6. Kilimo Bora Loans

Again, with more than 80 per cent of Kenya Women Finance Trust members based in rural areas, agriculture cannot be ignored.

Hence, the Kenya Women Finance Trust has strived to develop a financial solution to boost women participation in agricultural production.

7. Water, sanitation and hygiene loans

Kenya Women Finance Trust clearly understand the customer needs of women and girls.

And on the high note, it is practically impossible to separate water access to the needs of women and girls anywhere.

Hence Kenya Women Finance Trust  has the following two loans to boost the access of women  and girls to water access:

  • Water tank loans – This loan enables women to access affordable loans to acquire quality tanks so that they can harvest and stored water from during the rainy season.
  • Pureit – Kenya Women Finance Trust Bank has a loan to enable women to get a cess to a German water purification technology machine affordable. This loan is to address water hygiene in homes across Kenya.

Picture this

In every desert despair, there is always an oasis of hope.

From my view, financing struggles women have been experiencing all along are despair.

But, Kenya Women Finance Trust is the hope to uplift women economically and socially.

So, women out there, from my desk at Kanjwa.com, I encourage you to embrace Kenya Women Finance Trust initiatives.

3 COMMENTS

  1. Do you people give loans to men also? There is advert on social media that you give online loans to to all gender or is this fraud fee of Kshs 390 is required to prosses the loan?

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