List of Top Lenders that offer Boxer Motorbike Loans in Kenya. There are several companies in Kenya which offer bodaboda on loan. The price of one bodaboda is usually above Ksh80, 000 but the companies allow you to pay as low as Ksh15,000 and pay the rest over time.
Here are the companies which provide motorbike loans in Kenya
Mwananchi credit limited
You can get a Motorcyle loan in Kenya by contacting Mwananchi credit limited on 0709147000 or visiting our Mombasa branch at Jubilee Arcade. Approval for a motorcycle loan in Mombasa at Mwananchi credit takes only 24 Hours
Motorcycle Loans are different from car loans as our Mwananchi credit car loans only use vehicle logbooks, on the other hand the boda boda loan is an asset finance product that enables one to buy a motorbike in small installments.
Watu is a popular company which has offered loans for more than 1,000 bodaboda owners.
Q What are the requirements for one to get financing from Watu?
To qualify for a Loan, one is required to have the following:
- Original National ID (Borrower and one guarantor)
- KRA PIN Certificate
- Borrower’s age 18-19 years (must be accompanied by a guardian) 20-65 as normal
- 1 Guarantor (Aged 20 years and above)
- A down payment of Kshs 15,000 for Motorbike financing and from Kshs 50,000 for tuk-tuk financing
- A Safaricom Phone number that has been in use for the last 6 months
The borrower will then be expected to pay the installments as agreed, either daily, weekly or monthly.
This is only boxer motorcycle loan lender in Kenya which will not ask for an initial deposit.
Bike Lending Services (BLS)
Bike Lending Services (BLS) is also another boxer motorcycle loans lender in Nairobi. The terms are almost the same as Mogo and Watu Africa.
Maxyhonda mainly deals with Honda brand of Motorcycles. A customer can still get a bike on loan by paying the deposit and then pay the remaining amount in instalments as he or she already uses the bike.
BODA BODA LOAN
Completed 3 months membership contribution
Non-Salaried must have been in business operations , at least 3 months
Up to 12 months loan repayment period