Mwananchi Credit: The Epitome Of Every Possible Loan

Mwananchi Credit The Epitome Of Every Possible Loan

The reality of life is that we all need money to care for our basic needs. Any venture in life requires finances in some form, whether it be purchasing a dream car or starting a business. However, not many of us are born in privileged circumstances which allow us to have the finances necessary to fulfill these needs. Most of us are salaried employees who are paid just enough to make do with our expenses and cannot save the required amount. It can take many years to save money in the amounts necessary to take advantage of business opportunities. So is there a better solution for possible loan?

Borrowing from family or friends is another way, but this can sometimes be unreliable. Some people are not comfortable borrowing from family, leading to uncomfortable situations. This leaves getting loans a viable option. However, not every money lender is reliable, which means you need to be careful when getting a loan. At Mwananchi Credit Ltd., we are one such money lending company that is the epitome of every possible loan you may need. Don’t believe us? Please keep reading to find out how you can get your dreams financed with us.

What makes Mwananchi Credit Ltd. the epitome of loans?

Mwananchi Credit Ltd. is a Kenya-based company with extensive experience in the money lending industry. We have branches all over the country to ensure that you can obtain our loans wherever you may be. We are, without a doubt, the best loan providers in the country. We fulfill all the factors that decide what makes a company the best provider of loans. Here is are the following qualities you can see in all of our loans:

the epitome of loans

Company Credibility

We are a credible company, and our clients’ reviews speak for themselves. You can search us up on the internet and see for yourself.

Ideal Interest Rates

Our interest rates can go as low as 1.6%. These excellent rates ensure that our clients can repay the money with minimal hassle. There are also no hidden charges involved as we are transparent about all the costs that will be part of the loan repayment schedule.

Flexible Repayment Terms

We provide flexible repayment terms since certain situations may cause you not to be able to repay the money on time. We do not include penalties if you repay earlier than the repayment schedule as an added bonus. Typically, some lenders tend to do so.

Broad Loan Variety and Speciality

We have an excellent variety of loans to ensure a tailored loan option for your financing requirements. This is because each loan type has different collateral and terms. For example, a logbook loan provides more cash but also has more considerable collateral. We also specialize in certain loans like the logbook loan mentioned earlier.

Processing and Money Disbursement Speed

Getting your money as soon as possible may be crucial for you, especially in an emergency. This is why we try to provide you with cash swiftly by increasing the processing speed. The intent here is to make the process as hassle-free as possible.

As you can see, all these factors make sure that we are the epitome of every possible loan. Now we shall look at some of the loans we provide so you can see for yourself why they are the best you can get.

What kind of loans does Mwananchi Credit Ltd. provide?

What kind of loans does Mwananchi Credit Ltd

Logbook Loans

Logbook loans allow you to obtain financing by using your car as collateral. You can get quick cash through this loan as a car owner. And yes, you can use your car freely during this loan maturity. If you fail to repay the loan for whatever reason, the lender may possess your vehicle as stipulated in the contract. However, we at Mwananchi Credit provide excellent loan terms, which gives our clients a lot of time to repay the loan.

Logbook Loan terms

Most lenders tend to only offer up to a max of 30% of the value of your car. However, we provide up to 90% value of the car, ensuring you get great value out of your loan. In addition, as mentioned before, our interest rates are as low as 1.6%, allowing you to repay the loan amount with ease. Our flexible repayment periods can go up to four years. Depending on the car you are offering as collateral, you can get a sum from Kshs. 150,000 KSH to Kshs. 25,000,000 KSH. Since this is a secured loan using your car as collateral, you can get it even if you have a bad credit history.

The loan issuance process

Our logbook loans are disbursed within only 6 hours or less after processing the application. This ensures that you can get cash swiftly, making logbook loans great for emergencies. You can apply online on our website for this loan in some simple steps. Alternatively, you can visit any of our branches all over the country. The online application process is the following:

  • Enter details into the online calculator module on our website to determine the monthly amount to be repaid.
  • Click ‘Get a quote’ and fill in the required fields.
  • Apply, and a customer service rep will get in touch with you within half an hour (during work hours)
  • After pre-approval is done, you will need to visit any of our branches to sign your contract and receive the cash.

Requirements

The minimum requirements are:

  • Original car logbook
  • Client KRA PIN
  • Client’s original national ID card
  • Two passport size photos (colored)
  • Six months bank statement
  • Comprehensive insurance certificate cover

Car Financing

Car finance loans are fantastic funding options for borrowers who want to buy a car but do not have the money needed for it. Various lenders provide car financing, but we do so at the best possible lending terms. 

Car financing terms? 

We offer financing terms for different vehicles, including matatus and lorries. After all, everyone has a different interest and requirement. We provide the loan amounts that will generally differ from Kshs. 100,000 to Kshs. 25,000,000. You can get a flexible repayment time of up to 24 months and may keep the car during the loan. You will repay us monthly alongside the agreed-upon interest rates. The vehicle financed can be used or new, and the rates will differ based on various factors. You can check out our calculator on our website and fill in the requirements to get an idea of our interest rates. 

Requirements

The minimum requirements are the following: 

  • Six months certified bank statement
  • Client’s KRA and ID Copy
  • Two Passport photos
  • Sale agreement 
  • Proforma invoice.

Title Deed Loans

Title deed loans are used against a residential or commercial property to obtain funding. You can use this for any of your needs, business or otherwise. This loan type is ideal for an individual or SME who requires working capital to finance a business. This is because most salaried employees generally do not have the money to start a business. 

Title deed loan terms

Title deed loans terms will typically depend on the repayment capacity. This is ascertained by looking at various factors: loan amount, income, client’s age, qualifications, number of dependents, assets, liabilities, etc. This loan will not typically exceed more than 40% value of the property used as collateral. Title deed loans have a maximum tenure of 24 months, as long as they don’t exceed specific requirements of the contract. 

Requirements

You must be a salaried employee (not more than 60) or self-employed professional/ non-professional (not more than 65). Additional requirements are: 

  • Six months certified bank statement
  • Client’s KRA and ID Copy
  • Two Passport Photos
  • Sale agreement
  • Proforma Invoice.

Conclusion

As you can see, Mwananchi Credit Ltd. provides all possible loans you can think of at exceptionally excellent terms. All of this proves that we indeed are the epitome of every possible loan that a borrower may require. We have even shown you the values we prioritize at our company, proving how we are an established provider of loans.

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