This is a list of loan products offered by U&I Microfinance Bank and their branches in Kenya. U&I started off as a credit-only financial services provider in 2007 before being granted a license to operate as a deposit-taking microfinance institution by the Central Bank of Kenya on 8th April 2013. The bank’s head office is located on the 1st Floor of Asili Complex along River Road in Nairobi. They have two branches in Gikomba and Thika.
U&I Microfinance Bank Loan Products
1. Fasta Fasta Loan
This is an Imports clearing loan product where approval is done within 24 hours. This loan helps entrepreneurs to clear their goods from the port.
Features
- Repayment period of 1 month
- Financing of up to 70% of the value of the collateral/security
- Low-Interest rates
Requirements
- Landing Bill
- Copy of national ID card
- Passport photo
- KRA pin copy
- Demonstrate an ability to repay the loan.
- Must have a good credit history from the previous loans (if any)
- U&I Bank statements
2. Planner Loan
This loan product helps you to achieve your dreams as soon as possible. It is available to self-employed, employed or even contract-workers.
Requirements
- Filled in U&I Loan application form
- Copy of national ID card
- 6 months Original Bank statements
- Passport photo
- KRA pin copy
3. Asset Financing Loans
Asset financing helps businesses to obtain the equipment they need to grow. This loan product is given for the purchase of land, motor vehicles, Trucks, Buses, Pickups, or Taxis.
Features
- Financing of up to 80% for new vehicles and 70% for others
- Financing of up to 50% for land
- Repayment period of up to 36months
- Individuals qualify based on the ability to service the loan.
- Asset forms part of security.
Requirements
- Filled in U&I Loan application form
- Copy of national ID card
- U&I Bank statements
- Passport photo
- KRA pin copy
- Proforma Invoice from the seller
- Valuation report from U&I valuer
4. Karo Loan
This loan product is given to existing U&I customers to finance school fees.
Features
- Repayment period of up to 9 months
- Processing period – 1 week
- Payee: School/ Institution
Requirements
- The client has to be an existing account holder at U&I
- Demonstrate an ability to repay the loan.
- Must have a good credit history from the previous loans (if any)
- Copy of national ID card
- Passport photo
- KRA Pin copy
- School fees structure
List of U&I Microfinance Bank Branches
1.U&I Microfinance Bank Head Office
Location: 1st Floor, Asili Complex, Off River Road, Latema Rd, Nairobi
Contacts: 020 2403402, 0713 112 791
2. U&I Microfinance Bank Gikomba Branch
Location: Gikomba Area 42
Contact: 0796126940
3. U&I Microfinance Bank Thika Branch
Location: Thika Arcade Building – Ground Floor
Contact: 0726223569