Own a Boda from as low as 300 bob daily!
This product enables young entrepreneurs’ access funding for the purchase of Boda Boda due to lack of full capital.
How it works
- You'll then pay the remaining balance plus interest in equal monthly repayments over the agreed term.
- Loan repayment term: Max 18 Months. Repayment Frequency: Daily or Weekly. Repayment Method: Mpesa.
- After you've made all the repayments including any interest, you will become the owner of the motorcycle.
Own a Boda from as low as 300 bob daily!
This product enables young entrepreneurs’ access funding for the purchase of Boda Boda due to lack of full capital.
How it works
- You'll then pay the remaining balance plus interest in equal monthly repayments over the agreed term.
- Loan repayment term: Max 18 Months. Repayment Frequency: Daily or Weekly. Repayment Method: Mpesa.
- After you've made all the repayments including any interest, you will become the owner of the motorcycle.
Product Features
- Interest Rate: 3.5% per month. Processing Fee: 4% Application Fee: KES 500 CRB Fees: KES 300
- Comprehensive Insurance Fee: KES 7,600 (Strictly by Shimin Insurance Agency)
- Tracking Fee: KES 10,000 Credit Life Insurance: 1%
- Loan repayment term: Max 18 Months. Repayment Frequency: Daily or Weekly. Repayment Method: Mpesa Playbill Number.
Why Mwananchi Credit Motorbike Loan?
- You Get a Motorbike Comprehensive Insurance.
- Bike fitted with a tracking device.
- Low daily payment of KES 300 per day.
Requirements for Motorbike Financing
- Colored Passport Photo.
- Copy of ID.
- Copy of KRA Pin.
- Six Months Certified M-Pesa Statement.
- Three Guarantors (Provide ID copies, one guarantor to be a relative).
- Client Contribution KES.15,000.
Motorbike Frequently Asked Question - FAQs
You can get a Motorcyle loan in Kenya by contacting Mwananchi credit limited on 0709147000 or visiting our Mombasa branch at Jubilee Arcade.
Mwananchi credit can offer a motorbike loan in 12 Months
You can get a motorcycle loans in Mombasa at Mwananchi Credit Jubilee arcade building.
A brand New Tuk Tuk goes from around Ksh 300,000 to Ksh 450,000
Approval for a motorcycle loan in Mombasa at Mwananchi credit takes only 24 Hours
Insurance varies from different providers.
Down payment for a motorcycle loan in Mombasa at Mwananchi credit is just Ksh 15,000
Motorcycle prices range from Ksh 80,000 up to 150,000 for the popular transport boda boda used in Kenya
Interest is 4.5% per month.
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.
Motorcycle insurance is cheaper than car insurance.
For Safety reasons we encourage every boda boda rider to get insurance.
Through Shimin insurance you can be able to get the best rates for motorcycle insurance
Discover Mwananchi Credit Branches Near You
Explore our locations and find the nearest branch to access our range of financial services. Our friendly and knowledgeable staff are ready to assist you.