Family Bank Check-off loans are available to all employees whose employers have signed a memorandum of agreement (MOU) with Family Bank to process loan facilities. Monthly installments are paid directly to the bank. Fast & efficient check-off loans
Family Bank became a fully-fledged commercial bank in May 2007. The Bank is regulated by the Central Bank of Kenya (CBK) and is also regularly inspected using CAMEL ratings which look at Capital, Assets, Management, Earnings and Liquidity. The bank is a member of the Deposit Protection Fund (DPF) meaning that customers’ deposits are protected.
Features
- Repayment period of up to 72 months
- Insurance cover against death and permanent disability
- No hidden charges; age limit is 52 years of age
- The check-off arrangements are agreed with the various institutions by the head office and branches are advised appropriately
- Top-ups available upon request
- Loan buy-offs are available
- Attractive loan amounts of up to KES 3 million
Benefits
- Competitive interest rates charged
- Fast and efficient loan processing and disbursement
- Your salary is the security
- No late payment fees
- An easy and fast source of funds for account holders and nonaccount holders for personal development
Requirements
- Check-off loan application forms duly completed in triplicate
- The applicant’s certified original payslips for the last three months
- 3 certified copies of the applicant’s new-generation ID card and 2 recent passport size color photographs
- A certified copy of the applicant’s KRA PIN certificate
- The applicant’s certified original bank statements reflecting salary received in the last 3 months
- The applicant’s names should be similar in all documents, otherwise, he/she should obtain written confirmation from the employer that the names preferred to refer to the same person Family Bank Check-off loans
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