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Total Cost of Credit
Total Cost of Credit
Empowering borrowers with complete transparency discover all costs upfront for informed, confident financial decisions across every loan product.
ASSET FINANCE
Product: Asset Finance
Interest rate
2% per month calculated on flat rate basis
Primary Cost
Loan Processing Fee
3% of loan amount
Excise duty on loan processing fee
20% of loan processing fee
Credit Life Insurance Fee
Above Kes 1 million- 0.85% per annum and subject to age of borrower
Below Kes 1 million – 1.25% p.a. and subject to age of borrower
Chattel Fee
Kes 2,000
Excise duty on chattel Fee
20% of Chattel fee
Deed of Guarantee Fee
Kes 1,000 per guarantor
Default interest
1% per month
Service Providers fees
Tracking Fee
Range between Kes 10,000 – Kes 12,000 during first year+ (Kshs 3000- Kshs 5,000) per year for renewal based on tracking company’s rate. For units requiring addition of magnetic tracker , extra charges for second tracker apply
Valuation Fee
Kes 4,000- Kes 5,000 paid directly to the Valuer in the bank panel
WORKING CAPITAL
Product: Working Capital
Interest rate
2% per month calculated on flat rate basis
Primary Cost
Loan Processing Fee
3%
Excise duty on loan processing fee
20% of loan processing fee
Credit Life Insurance Fee
Above Kes 1 million- 0.85% and subject to age of borrower
Below Kes 1 million – 1.25% and subject to age of borrower
Chattel Fee
Kes 2,000
Excise duty on chattel Fee
20% of Chattel fee
Deed of Guarantee Fee
Kes 1,000 per guarantor
Default interest
1% per month
Service Providers fees
Tracking Fee
Range between Kes 10,000 – Kes 12,000 during first year+ (Kshs 3000- Kshs 5,000) per year for renewal based on tracking company’s rate. For units requiring addition of magnetic tracker, extra charges for second tracker apply
Valuation Fee
Kes 4,000 paid directly to the Valuer in the bank panel
INSUARANCE PREMIUM FINANCING
Product: IPF Product
Interest rate
2% per month calculated on flat rate basis
Primary Cost
Loan Processing Fee
3% of loan amount
Excise duty on loan processing fee
20% of loan processing fee
Credit Life Insurance Fee
Above Kes 1 million- 0.85% per annum and subject to age of borrower
Below Kes 1 million – 1.25% per annum and subject to age of borrower
Chattel Fee
Kes 2,000 (applicable only when IPF product borrowed)
Excise duty on chattel Fee
20% of Chattel fee (applicable when only IPF loan borrowed)
Deed of Guarantee Fee
Kes 1,000 per guarantor
Default interest
1% per month
Service Providers fees (only if loan product is taken alone)
Tracking Fee
Range between Kes 10,000 – Kes 12,000 during first year+ (Kshs 3000- Kshs 5,000) per year for renewal based on tracking company’s rate .For units requiring addition of magnetic tracker , extra charges for second tracker apply
Valuation Fee
Kes 4,000 paid directly to the Valuer in the bank panel
BIASHARA SMART LOAN PRODUCT
Product: Biashara Smart Loan Product
Interest rate
3.5% per month calculated on flat rate basis
Primary Cost
Loan Processing Fee
3% of the loan amount or Ksh. 5,000, whichever is higher
Excise duty on loan processing fee
20% of loan processing fee
Credit Life Insurance Fee
Above Kes 1 million- 0.85% and subject to age of borrower
Below Kes 1 million – 1.25% and subject to age of borrower
Default interest
1% per month
Why Total Cost of Credit Matters
TCC represents the complete financial commitment of your loan, including interest and all mandatory fees. Understanding these components helps you compare products effectively and plan your finances with confidence. Always review the full cost structure before committing to any credit facility.