About NIC mobile loans:
NIC mobile loan solution allows NIC Mobile banking customers’ access to instant low-cost loans on a self-service basis anytime, anywhere. It provides a convenient and cost-effective avenue to meet short term financial needs.
HERE to view the terms and conditions
How to access Mobile Loans?
Dial *488# and follow the steps or access it through the NIC NOW App.
What is the minimum amount I can have in my account?
The minimum amount you can hold in your account at any given time is KES. 1000.
How to check loan limits:
Dial *488# or check on the NIC NOW App and choose the option “check loan limit”
The interest rate applicable:
The rate is fixed at 13.5% per annum.
Charges involved while applying for a loan
A processing fee of 4% subject to excise duty.
Procedure of how to repay your loan:
Dial *488# or access the NIC NOW App and choose the option “repay loan”
Can you have more than one loan at a time or can you request for a top-up?
You can only have one loan at a time. Loan top-ups do not apply.
What is the minimum Loan amount you can borrow?
The minimum you can borrow is KES. 1,000.
Minimum loan amount is KES 100,000 can be borrowed
Maximum loan that can be borroeed in amount is KES 4,000,000
Repayment period is up to 72 months
NIC bank contacts:
Masaba Rd. Upperhill.
Fax: +254 (20) 2888505
Mobile: +254 (711)041 111/ +254 (732)141 111
Email: [email protected]
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