As the economic hard times continue to bite, Kenyan high school graduates and university graduates wishing to further their studies find it quite hard to finance the high fees demanded by the courses. Higher Education Loans Board (HELB) loan might not be enough to bridge the gap, hence students have to look for options to finance their dreams.
KCB has a student loan product called Masomo which offers students their much-desired financing to further their studies.
This unsecured study loan product is available to KCB customers with an active account for a minimum of 3 months. Furthermore, to be eligible for the KCB Masomo student loan, you must be salaried or have a guardian represent you.
Features of KCB Student Masomo Loan
- The loan is available to salaried KCB customers, who can be the student or the guardian.
- The total cost of the loan varies depending on the CBR rate, the excise duty of 20%, and other bank charges.
- Has a flexible repayment period of up to 2 years.
- The loan is accessed through check-off.
- You can borrow from Ksh. 100,000 to Ksh. 4 Million.
- Quick processing when all requirements are met.
See also: Baroda Education Loan, Details, How to Apply
Requirements for Masomo Loan
To be eligible for the KCB study loan, you or your guardian should be salaried and have an active KCB account for at least 3 months. Additionally, you need to avail the following documents when applying for the loan:
- A valid Kenyan ID or passport.
- Latest Original Pay slips.
- Proof of income if self-employed.
- Admission letter from the university or college.
How to Apply
To apply for the student education loan, visit your nearest KCB branch with the required documents. Alternatively, you can visit the KCB website and fill out the following form:
A representative from the KCB branch you selected will call you for further information and direct you on how to complete the application.
Read also: Equity Bank Savings Accounts, Opening Requirements
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