Consolidated Bank of Kenya is one of the oldest Banks in Kenya. In our article today, we will look at a list of Consolidated Bank of Kenya loans.
As for the perks of being in existence for a while now, the Consolidated Bank of Kenya is a trusted financial services provider in Kenya.
Most of its customers brag that they receive personalized services from these banks. Who would not want to bank with a bank that has a personal touch?
In case you are considering accessing a loan from the Consolidated Bank, this article is meant to be your guide.
Consolidated Bank of Kenya Loans
Consolidated Bank of Kenya Loans are divided into two major groups:
- Personal Loans
- Business Loans
Below, we delve into details about the different subcategories of loans offered under each significant category.
1. Business Loans
The bank provides the following types of loans under the business loans category:
- Insurance financing
When operating a business, there are many risks that one needs to take insurance covers. However, it is not possible to pay for these covers upfront due to a lack of finances.
Consolidated Bank cares for its business owners’ needs and ultimately understands that their success leads to the bank’s success.
This loan product enables the bank to pay for the business insurance cover straight to the insurance company. The business will then repay this loan in equal monthly installments for 4 – 10 months.
This loan is offered without security by the Consolidated Bank of Kenya and has a straightforward application process.
- Business overdraft and term loans
These days businesses are operating in hard financial times. As a result, companies are not left with much to grow and expand their businesses.
The Consolidated Bank has a business overdraft and term loans for companies that would like to grow to resolve this issue. This loan tops the list of the best loan products offered by the Consolidated Bank of Kenya.
The company owner has to fulfill the following requirements to access this loan:
- Present both the company and business profiles
- Show bank statements for the past six months.
- As well as present cash flow projections for the months ahead
- Commercial Construction Loan
If your company is a real estate company or looking into developing your piece of land into some rentals, this loan is meant for you.
If you are building units to sell, this loan is repayable for up to 24 months. However, if these units are for rent, then the loan is repayable in 10 years.
All you need to present to Consolidated Bank to acquire this loan is your I.D., your recent colored passport, KRA details E.T.C.
2. Personal Loans
Moreover, Consolidated Bank also offers personal loans to individual customers. The personal loans top the list of the best Consolidated Bank of Kenya loans.
- Personal Loans
Suppose you are an employed individual who is looking to take a loan to develop your side hustle. This personal loan offered by the Consolidated Bank of Kenya is the most affordable in the market.
The good news is that one can borrow up to KES 2,000,000.
However, you have to meet the following requirements:
- present your bank statement for the past six months
- Recent three months payslips
- Reference letter from your employer agreeing to remit salary through Consolidated Bank
- Solid scholar loan
For all your school fees needs, Consolidated Bank offers you a credit of up to KES 500,000.
Just present your fee structure and your payslip for the last three months and bank statements for six months, and voila! Your fees will be paid.
- Mortgage Loan
If you have always dreamt of living in your own house, Consolidated Bank is here to make your dreams count.
Moreover, funds from this loan can also be redirected to building the house instead of buying.
Just present all the documents required, and the loan amount will be deposited in your account.
- Asset Financing Loan
The dream life usually involves one driving a posh car. Consolidated Bank sees this by offering its customer’s asset financing loan to acquire motor vehicles, plant, and machinery.
Make Consolidated bank today your bank of loan choice, and it will not disappoint you. Its loan products are innovative, flexible, and straightforward in payments.
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