Credit Schemes
A wide range of credit schemes have been developed to suit the different client needs. The credit schemes are meant to assist customers meet their individual financial obligations.
Loans for commercial purposes aim at encouraging the service industry, trading and manufacturing activities. The Bank's strengths in handling International Banking makes import-export an area of priority.
Credit assessment is based on the following parameters:
• Economic viability of the activity.
• Credit worthiness of Directors/Owners/Promoter.
• Financial contribution of the borrowers.
• Industry/Market specific considerations.
An applicant for credit should have a flawless banking record. Disclosures from borrowers on an ongoing basis include audited accounts, income details, statement of accounts from past/main bankers and Valuation of prime/collateral security.
The different credit products made available to customers of the Bank are:
• Overdrafts- for business and industry.
• Loans- for purchase of vehicles.
• Import/Export Financing- both in Kenya Shillings and in Foreign Currency.
• Overdraft/Loan against Deposit- 90% of the value of the Deposit with the Bank at a spread of 3% over the deposit rate.
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