List Of Best Logbook Loans Providers In Kenya in 2024

BusinessLoansList Of Best Logbook Loans Providers In Kenya in 2024
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List Of Best Logbook Loans Providers In Kenya in 2024. Logbook loans offered by non-bank financial institutions in Kenya can come in handy when in need of quick credit especially for small businesses. They are increasingly becoming popular among Kenyans wishing to raise large amounts of money quickly.

But they are often misunderstood.

Propelled in part by the rate cap era (2016-2019) when banks drastically cut lending to small and medium enterprises (SMEs), non-deposit taking microfinance institutions (MFIs) stepped in to fill the gap with the logbook loan being one of their most successful products.

These credit-only institutions are not regulated under any legislation. A non-deposit taking institution in Kenya only needs to register as a private limited company to start lending operations.

But since this type of institution is not provided for in the Microfinance or Banking Acts, MFIs are not regulated by the CBK. Nevertheless, several MFIs have proactively applied for a digital credit provider (DCP) licence, including two that have already been approved by the CBK among the first 32 DCP licensees.

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How logbook loans work

A logbook loan is a secured lending where your motor vehicle – private car, van, truck or other type of commercial vehicle – is used as the security.

You are not required to surrender your vehicle to the lender for the duration of the loan. Instead, the vehicle logbook record is amended at the National Transport and Safety Authority (NTSA) to reflect joint ownership between you and the lender.

You continue to use your vehicle as normal until the loan is fully repaid at which point the vehicle logbook is discharged at the NTSA back to your sole ownership.

The loan amount is determined by the value of your vehicle, which typically will be done by an independent valuer from a panel provided by the lender. The lender will then offer you a loan that is equivalent to a percentage of the determined value.

As such, the logbook loan is not for everyone; you need to have a car whose logbook is in your name, the vehicle age must be within the coverage of the lender and importantly, one has to have the risk capacity to put their vehicle on the line.

How much can I get?

Lenders use the Forced Sale Value (FSV) of your vehicle to determine the amount you can qualify to borrow against it.

Unlike the market value, which is technically how much your car is worth, the FSV is the amount the vehicle can fetch if it is put it up for sale for a period not long enough to allow for sufficient marketing.

It can be likened to a “distress sale” – where something must be sold quickly. Typically, the seller would have to accept a lower price than they would under normal circumstances.

According to data by – a financial marketplace – MFIs finance between 50 percent and 80 percent of the Forced Sale Value of a vehicle offered as collateral for a loan.

“From what we are seeing, there is no exact formula used to determine the FSV during the logbook loan application process. Our data show on average, about Sh200,000 or less will be hived off the valuer’s report (market value) to arrive at the Forced Sale Value,” Hilda Ng’ang’a, the Commercial Analyst at Money254 says.

For example, if you own a 2014 Subaru Outback with a market value of Sh2 million, the FSV could be around Sh1,800,000.

Now, lenders will only finance a percentage of the FSV, which among MFIs for your Outback will get you between Sh900,000 and Sh1.44 million as the maximum logbook loan amount.

How fast?

Speed is one of the biggest selling points for logbook loans offered by MFIs along with the ability to accept borrowers with less-than-perfect credit scores.

The logbook loan process begins with pre-approval where your documents are verified to confirm if you meet the minimum requirements. The next step is valuation where you may be required to pay a valuation fee depending on the lender.

After this, underwriting is done – to determine whether your financial statements and vehicle value qualify you for the loan. This is when the loan offer is made to you.

“Read the offer to ensure that you are fully aware of the terms, conditions, and obligations associated with the loan. You can also identify any charges and unexpected provisions not mentioned during the loan negotiation process,” Ng’ang’a advises.

If you accept the loan offer, you proceed to security perfection – where joint ownership of the vehicle is effected with the NTSA. Depending on the lender, you may be required to pay the NTSA in-charge fee.

Once this is done, the loan amount is disbursed to the bank account of your choice.

This entire process can be completed within 24 hours, at least as marketed, by some MFI logbook loan providers if the borrower has all their documents in order and actually qualifies.

According to insights from Money254, the time from application to disbursement ranges from 24 hours up to five days for most MFI loans.

What else you need to know about logbook loans?

Now cost is one of the sticky issues with logbook loans offered by MFIs.

Most logbook loans have a blend of percentage-based and fixed fees associated with them, which means the Annual Percentage Rate (APR) adjusts depending on the loan amount you are looking for (larger loans are relatively cheaper when you have fixed fees).

A logbook loan of Sh100,000 from an MFI attracts an APR of between 40 percent and 99 percent when all costs are included depending on the lender.

The marketed monthly rate of a logbook loan offered by an MFI in Kenya ranges from 3.1 percent to five percent. The monthly rate is important because many borrowers who choose these credit-only institutions are SMEs whose credit decision begins with a determination of what the business can practically afford to pay monthly and still meet all other obligations.

As well, many SMEs will use MFI logbook loans for working capital purposes with the intention of repaying early since several lenders in this category allow for early repayment with no penalties.

Apart from the interest rate and as alluded to above, there are a number of fees associated with logbook loans that you should be aware of. Upfront fees include logbook search, valuation, NTSA in-charge, car tracker, and processing fees.

Understanding how these fees are structured is vital in helping you know their impact on the total cost of the loan (TCC).

“Fees are either paid upfront, deducted from the disbursed amount or capitalised. If fees are capitalised, they become part of the principal, the loan amount increases, and interest is calculated on the higher total. So your TCC of a loan with capitalised fees will be higher than a loan where fees are deducted,” the Money254 Commercial Analyst explains.

If your vehicle doesn’t have a comprehensive insurance cover, with most MFIs, you will be required to get one or sign up for Insurance Premium Financing (IPF) through the same lender.

You can get an option to capitalise all the fees with several lenders in this category which saves you the need to raise these amounts upfront. However, this will increase your principal amount.

It is of utmost importance to inquire about and understand the lender’s vehicle repossession policy before making your choice.

You can compare your options on for free.

Here is a List Of Best Logbook Loans Providers In Kenya in 2024


FinCredit® (formerly AAR Credit Services Ltd) is a premier credit-only micro-finance institution with operations in Kenya, Uganda and Liberia. It started its operations in the year 2000 as a member of the AAR Group of Companies.

P.O. Box 101267-00101 Nairobi, Kenya

1st Floor, Methodist Ministries Centre, Oloitokitok Road,Lavington

Ngao Credit

Ngao Credit Limited is a non-deposit-taking Microfinance institution founded with the main goal of providing financial services to the underserved. We pride ourselves in providing unique and tailor-made financial solutions that satisfy our client’s needs in the shortest time possible and unlock possibilities for SMEs and business owners.

WhatsApp: +254728290551


Call: +254 709 650 000

USSD: *725#

WORKING HOURS: Mon-Fri: 8am-5pm | Sat: 8am-12pm

Platinum Credit Logbook Loans

Platinum credit comes in second as a top logbook loan provider in Kenya. Moreover, Platinum credit has been around for a while now, offering the best to the customers. AtPlatinum Credit, all loans, including the logbook loan, are subjected to a loan appraisal process.

Once a loan has been approved, the loan will be disbursed within 24 hours, either Via Mpesa, cheque, or to a bank account.

Official phone numbers – 0709 900 000 | 0730 900 000 (customer care/call center)
Head office landline – 020 224 7950

Mobile phone numbers:

1. Safaricom – 0706 644 442
2. Airtel – 0786 310 001

0709 900 000 | 0730 900 000 for sales and new customer enquiries. Alternatively for a free quote you can click here to submit your details. for existing customer account enquiries and customer service. for enquiries about jobs and job vacancies. for administration enquiries that do not relate to customer accounts. For customer account enquiries please use emails above.

Physical Address

International Life house, Mezzanine Floor,
P.O Box 73304- 00200,

Jijenge Credit

Jijenge Credit Ltd is your trusted digital credit provider, licensed by the Central Bank of Kenya since 2014. Explore a diverse range of tailored financial solutions, including Log Book Loans, Title Deed Loans, Cheque Discounting, SME/Business Loans, and more.

Established in 2014, we are a licensed digital credit provider approved by the Central Bank of Kenya (CBK), committed to addressing the pressing market demand for accessible working capital solutions for Individuals and Small to Medium Enterprises (SMEs).

Physical Address: Nairobi, Kaunda Street, Town house building, 6th floor
P.O Box 9578-00200
Phone number: 0711282727

Our Branches: JCL Motors Ltd: Next To Ridgeview Garden, Kiambu Road.
P.O Box 9578 -00200 Nairobi
Phone number: 0791 282 727

Momentum Credit Logbook Loans

In addition to all the places listed above, Momentum credit offers the best logbook loans in Kenya. One can unlock up to 50% of the market value of their car within 24 hours of application.

At Momentum Credit, a client is eligible for up to KES 5,000,000 to receive it within 24 hours.

The institution lends you up to 50% of the value of your car.

  • Must have three months’ payslips for the employed clients
  • You need six months of active bank account
  • Must have an original logbook
  • Copy of National ID
  • Copy of KRA Pin
  • Proof of Residence
  • One Passport Photo
  • Proof of Comprehensive Insurance

Galpo Capital

At Galpo Capital, they arrange same-day loans in exchange for the registration document while you keep using your vehicle.

We finance 50% of the logbook value from a minimum of Ksh.50 000.

 Mogo Credit

Mogo credit promises to offer you a top logbook car loan in Kenya in under 24 hours. Like Jijenge credit, Mogo Credit requires minimum documentation from the customer to process their request. The company is part of the Mogo Finance Group which provides logbook loans that range from KES 100, 000 to 1, 500, 000, within 24 hours. One is able to choose a repayment period of up to 5 years, with the repayment schedule being on a weekly or monthly basis depending on a client’s choice.

Feature of the loan
  • One must own a car. If they do, you can access a loan of up to 80% market value of the car.
  • Showing proof of income is also mandatory, and providing copies of ID, KRA Pin, and a logbook.
  • The loan repayment period is up to 60 months, giving you ample time to repay it.
  • Please visit mogo to apply.

Bidii Credit Limited

To qualify for the company’s logbook loan, the following requirements must be met;

  • The vehicle must be in your name/guarantors name
  • Clean credit history
  • 6 months bank statement with a cheque book
  • Motor vehicle valuation
  • Motor vehicle logbook
  • 2 blank signed motor vehicle ownership transfer forms
  • 2 passport photos of the applicant
  • Documents to show proof of comprehensive motor vehicle insurance

Phone: 0709 840 000


Mwananchi Credit Limited

Mwananchi credit limited is an incorporated private company that is one of Kenya’s most popular logbook loans.

The facility is secured using your car’s logbook of up to KSH. 20 million.

Individuals who qualify for the loan product must have a car, van, or motorcycle that will act as collateral.

The loan is then available in less than 24hrs which is more convenient for a client who needs quick money.

Features of the logbook loan by Mwanachi Credit
  • The maximum processing time of this loan is 6 hours
  • If the loan is for six months, it attracts a compound interest rate of 6%
  • Up to 50% financing(forced sale value of the car)
  • If the loan is for a year(12 months), the interest rate is at 6% on reducing the balance.
  • Moreover, Mwananchi credit charges a 5% processing fee and a 1% insurance fee for the loan amount.
  • One has to pay upfront a valuation fee of KES 4,000.
  • Other costs that one has to incur include CRB check – KES 300, application form – KES 300, tracking fee – KES 7,500, and transfer fee – KES 2,500.
Requirements to access this loan
  • The first thing to present, of course, should be your original logbook
  • KRA Pin of Applicant
  • A national ID of the Applicant
  • 2 Passport Photos
  • 6 Months Bank Statements
  • Comprehensive Insurance Certificate

Auto Advance Logbook Loans

It is one of the trusted, reliable and transparent logbook loan provider in Kenya, that provides loans with no extra fee and no CRB checks.

Address: Millenium Place, Buru Buru, Nairobi

Phone: 0765 650 650


Bridgewater Capital

With Bridge Water, you can request up to 1million logbook loans.

Once you qualify for the loan, you will receive it within 24 to 48 hours. To be eligible for a loan, your vehicle should be at least up to 10 years old.

  • Must be a Kenyan Citizen
  • Be in a position to show you can afford to pay the loan. This may mean you have a running business or are employed.
  • Must own a vehicle that is free of finance and insured

Watu Credit Limited

Watu Africa is an asset financing company revolutionising financial inclusion and mobility for millions in Africa. Apply for a loan!

Citizens Credit Limited

This company offers logbook loans which can be secured against more than one motor vehicle at the same time.


  • Original logbook
  • KRA Pin of applicant
  • National ID of applicant
  • 2 passport photos
  • 6 months bank statements
  • Comprehensive insurance certificate

Location: 11th Floor, Finance House, Loita Street, Nairobi

Phone: 0722 646 687

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