Types of Bank of Africa Kenya Loans

Types of Bank of Africa Kenya Loans, Bank of Africa Kenya, Bank of Africa Kenya Contacts, Bank of Africa Kenya Loans,
Bank of Africa Kenya Loans

Below are different types of Bank of Africa Kenya Loans. Bank of Africa – Kenya LTD is a commercial bank in Kenya that offers banking services to SME, corporates and retail clientele.

The bank is licensed by the Central Bank of Kenya (CBK) and it kicked off its operations in Kenya in 2004.

The headquarter of Bank of Africa – Kenya LTD is located at BOA House, Karura Close, off Waiyaki Way, Nairobi, Kenya and the one in Mombasa is at Palli House, Nyerere Avenue.

For those who are stuck financially, worry not because today, we are going to share different types of Bank of Africa Kenya loans that may be of help to you.

Types of Bank of Africa Kenya Loans

1. Bank of Africa Kenya Asset Finance – Personal Motor Loan

This type of loan will enable you get new and used movable assets eg: vehicle at an affordable rate.

Benefits

  • Financing up to 95% for brand new cars.
  • Moratorium of two months.
  • Financing up to 85% for used vehicles.
  • Ksh. 300,000 working capital for Simba corporation.

Requirements for Individual Salaried Customer

  • Copy of National ID.
  • Copy of KRA PIN certificate.
  • Individual insurance form.
  • 3 recent Pay slips. They should be stamped and original.
  • Certified bank statements for the last 6 months. They should be for your salary account.
  • Employment letter.
  • Letter of undertaking.
  • Proof of residence. Eg: Utility bill.
  • Sale agreement or Profoma invoice.
  • Copy of logbook or import document.

Requirements for Individual Business

  • Copy of National ID.
  • Copy of KRA PIN certificate.
  • Individual insurance form.
  • Certificate of registration if it is a sole proprietorship.
  • Certified account statements for the last 12 months.
  • Certified copies of your current contracts.
  • Proof of residence. Eg: Utility bill.
  • Sale agreement or profoma invoice.
  • Copy of logbook or import document.

Requirements for Limited Company

  • Copies of the directors IDs.
  • Certificate of incorporation.
  • Individual insurance form.
  • Application letter with the company’s letter head, sealed and stamped.
  • Recent copy of CR 12 and KRA return slip.
  • Profile of the company.
  • Financial statements for the last 3 years for loans above Ksh. 3 million that have been audited.
  • Audited management accounts.
  • Directors KRA PIN certificates.
  • Company’s KRA PIN certificate.
  • Articles and memorandum.
  • Certified account statements for the last 12 months.
  • Certified copies of current contracts.
  • Directors proof of residence. Eg: Utility bill
  • Profoma invoice.
  • Copy of logbook or import document.

2. Bank of Africa Kenya Personal Loan

This type of loan ranges from Ksh. 50,000 to Ksh. 2 million. It also applies to salaried individuals who pocket Ksh. 25,000. No collateral is needed for this type of loan.

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Eligibility

  • Salaried individuals who have been in employment for at least six months.
  • Minimum net salary of Ksh. 25,000.
  • Processing fee is 5%.
  • Clean CRB report.

Benefits

  • Interest rates are competitive.
  • Interest installments are flexible.
  • Maximum loan amount is Ksh. 2 million.
  • Minimum loan amount is Ksh. 50,000.
  • Processing of loan and disbursement is one week.
  • Repayment of loan is one to four years.

Requirements

  • Bank of Africa Personal Loan application form
  • Letter of undertaking from employer confirming employment and that salary shall be sent directly to the applicant’s Bank of Africa account
  • Copy of National ID.
  • Copy of KRA PIN certificate
  • Pay slips for the last 3 months.
  • Non-BOA customers should produce certified copies of bank statements for the last 6 months.

Bank of Africa Kenya Contacts

Tel: 0703 058 120 or 020 327 5120

SMS: 20030

Email: yoursay@boakenya.com

I hope that this post on types of Bank of Africa Kenya loans has been of great help to you.

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