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CFC STANBIC HOLDINGS LIMITED LOANS

CFC Standard Bank Image

CFC offers a variety of loans to help you meet both your short- and long-term financial obligations. Competitive interest rates apply, and flexible terms can be negotiated to suit your budget.

PERSONAL LOANS

HOME LOANS

Ordinary Home Loan

CFC understands that buying a house is more than just an investment, but also a place to call home, to create memorable moments that will last forever.

Their home loans give you the opportunity to buy your own property. Home buyers need to make provision for the upfront bond registration and transfer costs as well as any deposit required. With this product, you can buy an existing, developed residential property and get up to 100% financing.

What it offers you?

Get 100 % financing

  • Loan or property value should be between KShs.3 million and 10 million
  • You must be a salaried individual with a minimum gross salary of KShs.100, 000
  • Must be a developed residential property
  • The maximum loan repayment period is 20 years
  • The access mortgage feature allows you to make lump sum deposits into and withdrawals from your home loan account at no cost
  • Approval is within four days after we get all your documents
  • They have a dedicated call centre to help you through the home loan application process
  • Competitive variable interest rates linked to our base rate
  • Credit life protection is included in your loan repayments
  • Low facility fees.

Get 90% financing

  • The loan amount should be at least Kshs.1 million
  • Home loans are available to both salaried and self-employed individuals
  • They finance up to 90%of the value of the property or the sale price, whichever is lower
  • The maximum loan repayment period is 20 years
  • The access mortgage feature allows you to make lump sum deposits into and withdrawals from your home loan account at no cost
  • Approval is within four days after we get all your documents
  • They have a dedicated call centre to help you through the home loan application process
  • Competitive variable interest rates linked to our base rate
  • Credit life protection insurance is included in your loan repayments
  • Low facility fees.

Equity Release

This product allows homeowners to unlock the value in their homes by letting them borrow money against their property.

What it offers you?

If you own your home, you can borrow up to 90% of its value

The maximum loan repayment period is 20 years

The Access mortgage feature allows you to make lump sum deposits into and withdrawals from your home loan account at no cost

Dedicated call centre to you through the application process

Approval is within four days after we get all your documents.

Credit life protection insurance is included in your loan repayments

Competitive variable interest rates

Low facility fees.

Pension – Backed Home Loans

The Pension-Backed Home Loans allow members of selected pension schemes to use up to 60% of their existing pension to secure finance from CFC for the following purposes:

  • Make a down payment on a residential property
  • Pay stamp duty, valuation and legal fees, and any other transactional costs when buying a home.

What it offers you?

  • Finance of up to 105% of the value of the property
  • A minimum loan amount of KShs.1 million
  • The maximum loan repayment period is 20 years
  • The Access mortgage feature allows you to make lump sum deposits into and withdrawals from your home loan account at no cost
  • Dedicated call centre to help you through the home loan application process
  • Approval is within four days after we get all your documents.
  • Credit life protection insurance is included in your loan repayments
  • Competitive variable interest rates linked to our base rate
  • Competitive facility fees.

PERSONAL UNSECURED LOANS

CFC knows you have aspirations and may need a little help to get ahead. Their personal unsecured loans allow you to choose the product that suits your needs.

What it offers you?

  • Minimum loan amount of KShs.50, 000
  • Maximum loan amount of KShs.4 million
  • Maximum loan term of 60 months
  • You can top-up your loan after six months of repaying your loan.
  • Competitive interest rates and facility fees
  • Credit life insurance on all loans
  • Approval within 48 hours after we get all your supporting documents.

*Maximum loan amount is subject to terms and conditions, and you meeting their eligibility criteria.

What do you need to apply? 

  • You must have been in employment for the past two years
  • Be a salaried employee earning a minimum net salary of KShs.40, 000 a month
  • Your latest payslip
  • Copy of ID or passport
  • PIN Certificate
  • Letter from your employer confirming terms of employment
  • Six months’ bank statements from another bank if you don’t bank with them.

VEHICLE AND ASSETS FINANCE

They offer short- to medium-term finance for the purchase of moveable assets, such as motor vehicles, for your personal use.

What it offers you?

  • Competitive interest rates in both local and foreign currency
  • Prompt response to hire purchase applications
  • Flexible financing terms for up to 48 months
  • Financing of motor vehicles ranging from saloons and pick-ups to prime movers and earthmovers
  • New or used assets may be financed
  • Assets remain our property for term of the loan. Ownership is transferred to you after the last payment has been made
  • An insurance premium financing option is available to help you with your insurance payments
  • Automatic reminders of insurance expiry.

Requirements include:

1. Completion of the application form

2. 6 months latest bank statements

3. Certified copies of ID and Pin

4. Memo’s and articles for companies

5. Pro-forma invoice from seller/dealer

6. Valuation report for used units

7. Copies of log book (for used units)

Vacant Land Loan

This loan allows you to buy residential plots in Nairobi and Mombasa.

What it offers you?

  • Maximum loan term of 10 years
  • Maximum loan amount of KShs.20 million
  • Finance for a maximum of 50% of the property’s value
  • Competitive variable interest rates
  • Arrangement fee is only 2% of the loan amount.

What you need to apply? 

  • Copy of your current pay slip/proof of income
  • Copy of your employment contract (expatriates only)
  • PIN certificate
  • Certified copies of 12 months’ bank statements
  • A letter of reference from your employer, an existing customer of the bank or other credible referees
  • A copy of your identity card/valid passport
  • For limited companies, they need two years’ audited statements.

BUSINESS LOANS

Business Overdraft 

Overdraft facilities are available on business current accounts, giving you access to extra funds (up to a specified limit) to help you manage your day-to-day cash flow and working capital needs.

What does it offer?

  • An ideal way to cover temporary cash flow requirements and short-term working capital needs
  • Cash is available immediately
  • Interest is only charged on the used portion of your overdraft.

Vehicle and Asset Finance

The Vehicle and Asset Finance facility offers up to 60 months for financing the purchase of assets, such as motor vehicles, plants, equipment and machinery for your business. With over 50 years’ experience in vehicle and asset finance, they are able to offer competitive and flexible terms to their business customers, depending on the type and age of asset being financed.

What does it offer?

  • Competitive interest rates in both local and foreign currency
  • New or used assets may be financed

Insurance premium financing option to help you with your insurance payments

Automatic reminders of insurance expiry

Financing of machinery, office and medical equipment

Flexible financing terms for up to 60 months

Financing of motor vehicles ranging from saloons and pick-ups to prime movers and earth movers.

They also finance used vehicles subject to meeting their guidelines and conditions.

 Business Revolving Credit 

A revolving line of credit is an unsecured loan that offers you continual revolving credit with immediate access to funds. Business revolving credit is an ongoing business loan where repayments are calculated for up to five years in equal monthly installments.

What does it offer?

  • Your business can redraw on the loan up to the original loan amount
  • The loan can be used to finance working capital and short-term expenditure where you prefer a set monthly repayment
  • The loan can be used to purchase intermediate assets (assets with a medium lifespan) that do not fall within normal asset finance, for example, small equipment
  • They offer competitive interest rates
  • Loan term is between 36 and 60 months.

Business term loans

A Business Term Loan helps your business to meet its long-term financial needs. Business term loans are structured for between 3 and 10 years. To make repayments suitable for your business, monthly installments are matched to your business’ cash flows.

What does it offer?

  • Finance to buy or upgrade fixed property
  • Repayments can be tailored to suit your business’ cash flows
  • Affordable insurance cover for your loan, which you can pay every month
  • Competitive interest rates.

SME Bizna Loans

CFC is passionate about business because they understand that the success of their business is dependent on the success of yours. The SME Bizna Loan is unsecured short-term finance with higher limits and repayment periods than an SME Quick loan.

What does it offer?

  • Maximum loan amount of up to KShs.3 million
  • Term of up to 36 months
  • Allows you to continue your operations by making sure you have enough funds to cover both maturing short-term debt and future operational expenses.

SME Quick Loan

CFC recognizes the important role that SMEs play in the growth and development of the economy. They also understand your need to grow your business, which is why they offer SMEs quick loans.

What does it offer?

  • Hassle free: No financials needed, only a few details about yourself and your business
  • Unsecured: No security or group guarantee is needed
  • Quick turnaround: Maximum of four business days to give you an answer
  • Financial freedom: It is just for you. CFC  understands that you may not want to share your financial matters with a group or be accountable to a group for a loan
  • Term: 6 to12months
  • Minimum loan amount: KShs.50, 000
  • Maximum loan amount: KShs.2 million.

The quicker you repay your loan the quicker you get access to a larger amount at a lower rate.

What do you need to apply?

To apply is easy; all you need is to have a current account with the required opening balance.

How much will it cost?

They charge a percentage on the interest accrued

REFERNCE

http://www.cfcstanbicbank.co.ke/kenya/

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