NIC quick mobile loans,procedure of obtaining and repaying the loans and The process of acquiring and repaying NIC personal and unsecured loans

By
Kwamboka Ivon
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  1. 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.

Click 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:

NIC House
Masaba Rd. Upperhill.
P.O.Box 44599-00100,
Nairobi Kenya
Fax: +254 (20) 2888505
Mobile:  +254 (711)041 111/ +254 (732)141 111
Email: customercare@nicgroup.com

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