Types of KWFT Loans and their Interest Rates

Are you looking for KWFT Loans? well, today we will list all the available loans offered by the Kenya Women Finance Trust in Kenya.

KWFT is a financial institution dedicated to meet the needs of women and girls. Initially started as a women’s self-help group. It has grown, and it is the leading and oldest microfinance institution serving over 800,000 clients around the country with 245 branches.

The institution received the Central Bank of Kenya (CBK) license for Deposit-Taking Business in March 2010.

KWFT has a massive number of clients based in the rural area, therefore, ensuring that there is equality and reach as many people as possible.

Types of ​Loans offered at Kenya Women Finance Trust.

Here are the loans offered by the Kenya Women Finance Trust.

1. Business Loans

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

This product includes:

 – Biashara Loans: This is designed to assist women who are running SME in expanding their business

 – Mwangaza loans: This is offered to women with large and medium-sized businesses

 – Mwamba loans: This is a loan to individual women entrepreneurs with medium and large-sized businesses to access affordable financing individually without a group co- guarantee.

 – SME Loans: This is a loan product designed for established large-scale entrepreneurs or entities already in business and needs access to working capital to expand their businesses.

 – Asset Financing loans: This is a loan facility for both existing and new clients to acquire a tangible asset for business efficiency and commercial use.

 – Tujiunge Chama Account: This is an account that is designed for formal and informal women groups of at least three members who would want their savings to be safe and, at the same time, grow.

2. Emergency loans

This is quick or urgently need money gotten in a short period meant to satisfy an immediate need.

Requirements

  • Copy of National ID
  • A document certifying the loss incident .e.g police abstract or veterinary postmortem report.
  • Passport photo

3. Education loans

The KWFT grants the clients an education loan to help in the payment of school fees.

Above all, the loan has exciting benefits, including free bankers cheque, flexible loan repayment, and timely loan processing.

Requirements

  • must produce the school fees structure
  • Copy of your National ID
  • passport photo

4. Consumer loans

This product comes in two types:

1. Phone Loan:

This loan is given to Kwft clients to afford high-quality phones to promote mobile banking.

Requirements

  • Must be a KWFT customer in either group or individual.

2. Salary Loan:

The loan is designed to extend credit facilities to employed customers against their salaries.

This can be through Checkoffs or personal salaries.

Requirements

  • Must show a 3 Months Certified payslips
  • Original and copy of ID/Passport
  • Passport photo

5. Clean and Renewable smart loans

This includes loans to acquire products that provide clean energy.

They include:

1. Cooking Solutions:

The loan enables the acquisition of clean, energy-saving cooking stoves that are modern and environmentally friendly. No requirement is needed for this loan. All you require is to be a member of KWFT.

Benefit

  • It saves on firewood.
  • It is Very efficient while cooking.
  • Saving on time and cost.
  • Reduced internal air pollution.
  • Technical support provided.
  • The products are environmentally friendly.

2. Solar Lighting Solutions:

It provides access to environmentally safe solar energy products for lighting solutions and charging simple domestic. There is no requirement required for this loan

Benefits

  • Reduces lighting fuel cost since it uses solar
  • Can charge simple domestic electronic gadgets
  • Helps in the day to day homestead activities.
  • Provided high-quality lighting for households & businesses

3. Biogas Loans:

This loan enables farmers, especially those with dairy farming, to acquire the best equipment to produce useful biogas

4. Stima Loans:

The Stima loan helps in the connection of electricity to the client’s home.

6. Kilimo Bora Loans

The loan is given to farmers who are looking to invest in raring high breed dairy animals as well as get insurance cover for the dairy animals

Requirement

  • Must be a dairy farmer
  • Flexible collateral

Benefits

  •  Improved livestock breeds.
  • Access to credit to purchase high-quality dairy cows/goats.
  • Insurance compensates 100% of the insured amount.
  • Sense of pride from improved production and income

7. Water, sanitation, and hygiene loans

The purpose of these loans is to boost the access of women and girls to water access.

This particular loan includes:

1. Water tank loans: The credit is mainly given to clients who are mostly in agriculture. It enables them to acquire water tanks to store water for domestic use, farming, and irrigation purposes.

Water tank loans Requirements:

    • Copy of National ID Card
    • Passport photo
    • Must have an account with KWFT

2. Pureit: KWFT offers pure it, which uses a breakthrough programmed Germkil technology using a multi-stage purification process that delivers clean water, giving your complete family protection from germs

8. Nyumba Smart Loan

This is a financial product that will enable a client to acquire quality building materials for home construction or improvements with affordable housing support services.

Requirements

  • Copy of National ID Card
  • Passport photo
  • Construction cost estimates

9. KWFT Afya Fit

This is a product given to KWFT clients meant to cover health insurance to meet medical expenses for you and your family members.

Requirements

  • Colored passport photo for all dependants
  • Copy of National ID (Principle Member and 1 Spouse).
  • KRA pin
  • Letter from Child welfare (For children under guardianship).
  • Copies of Birth certificates for dependents.

Opening an Account at Kenya Women Finance Trust

  1. First, you need legal identifying documents like a passport or an I.D card.
  2. And since KWFT is committed to women and girls’ economic empowerment,  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 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 ladies’ and young women’s needs 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 endeavors 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 formal or informal groups, should feel honored to open the Tujiunge account.
  • Inuka Salary Account – Finally, the salaried account holders cannot be forgotten when it comes to saving. With the account of your choice ready, you may now think of accessing a loan at KWFT.