Types of Izwe Loans that Kenyans can apply

April 4, 2021

in Wealth

Reading Time: 2 mins read

Izwe loans Kenya is a solution that most, if not all, civil servants enjoy. These personal advances come in handy when civil servants are pressed for cash or when there is need to cater for certain expenses that are considered personal hence not easy to access bank credit. It is one of the sources of small loans in Kenya that saves a lot of civil servants when they are in dire need. Types of Izwe Loans that Kenyans can apply

Below are different types of Izwe loans that may be of help to you. Izwe Kenya is a micro-finance institution in Kenya that has been permitted by the Kenyan government to give unsecured check- off loans to county government workers, TSC members and civil servant among other institutions.

One thing i like about Izwe loans is that their repayment period plan is very flexible and interest rates favorable.

Their loan amount ranges from Ksh. 5,000 to Ksh. 500,000 and repayment period is between 8 to 60 months, depending on the loan amount.

For Kenyans who are in a financial crisis and are in dire need of loan can try out Izwe loans.

Types of Izwe Loans

1. Izwe Personal Loans

This type of loan product is given to borrowers for personal use. It is sub-divided into four:

Education loans
Building loans
Business capital
Unforeseen Expenses

Features

Loan repayment is flexible.
No hidden cost and monthly instalment is fixed.
One can obtain financial assistance at any Izwe branch in Kenya.
The maximum loan amount is up to Ksh. 1.5 million.

2. Car4Cash Loans

This type of loan product is given to borrowers with cars. The maximum loan amount is Ksh. 3 million and the good thing with this product is that, it enables one to still drive their car while repaying their loan.

Below are some aspects of Car4Cash loan:

Loan is against the value of your car. It is up to Ksh. 3 million.
Minimal documentation and if the loan is approved, it will be credited to your bank account the very same day.
Monthly payments of the loan. Up to 18 months.
You need to present post-dated cheques for the loan term.

Loan Requirements

Driver’s license. Should be valid.
Vehicle documents. (Logbook etc) should be original.
2 passport-sized photos for the loan applicant who should also be the owner of the car.
Post-dated cheques for the loan term.
Bank statements for the last 6 months.

3. Izwe Business Loans

This type of loan product is given to borrowers who want to expand their businesses or start one. It’s cash against your vehicle.

Loan Requirements

Driver’s license. Should be valid.
Vehicle documents. (Logbook etc) should be original.
2 passport-sized photos for the loan applicant who should also be the owner of the car.
Post-dated cheques for the loan term.
Bank statements for the last 6 months.