Citizens Credit Limited is one of Kenya’s leading microfinance institutions, offering a range of innovative financial products designed to meet the needs of individuals, entrepreneurs, and small businesses. With a focus on providing accessible loans for those who may not have access to traditional banking services, Citizens Credit plays a vital role in bridging the financial gap in Kenya. Whether you need a personal loan, business financing, or a short-term cash solution, Citizens Credit has a loan product tailored to your needs. In this article, we explore all the loan products offered by Citizens Credit, detailing the requirements, charges, and contacts for each.
1. Logbook Loans
Citizens Credit’s logbook loans are secured against the borrower’s motor vehicle, allowing you to access immediate funds for personal expenses like medical bills, school fees, or household needs. The flexibility to use multiple vehicles as collateral makes this loan an attractive option for larger financial needs.
Requirements:
- Original logbook
- KRA PIN
- National ID
- Two passport-sized photos
- 6 months’ bank statement
- Comprehensive insurance certificate
2. Check-Off Loans (Civil Servants Loans)
Tailored for civil servants, TSC employees, and employees of companies with a Memorandum of Understanding (MOU) with Citizens Credit, this loan product offers favorable terms for salaried individuals.
Requirements:
- Latest payslip (original)
- National ID
- KRA PIN certificate
- Passport-sized photos
- Confirmation letter (for civil servants)
- Letter of appointment
Charges:
- Processing fee: 5% of the principal amount
- Loan form fee: Ksh 300
- CRB fee: Ksh 300
- Witnessing fee (legal): Ksh 400
Interest rate:
- Up to 5% per month for private sector employees
- Variable rates for civil servants based on repayment period
3. Cheque Discounting
This product provides immediate cash against a cheque drawn by a reputable company, ensuring uninterrupted business operations despite cash flow challenges.
Requirements:
- The cheque to be discounted
- Applicant’s ID copy
- Acknowledged invoice or payment vouchers (if available)
4. Invoice Discounting
Citizens Credit offers financing for businesses supplying goods to supermarkets, reputable companies, educational institutions, hospitals, and NGOs. You can discount up to 80% of the invoice value, with repayment within 90 days.
Requirements:
- Acknowledged original invoice
- Delivery notes for goods supplied
- Letter of assignment of receivables
- Latest bank statement of the business
5. Import Financing
Import financing helps clients clear port, storage, and demurrage charges, preventing penalties. Citizens Credit offers 100% financing for duties and taxes as per KRA guidelines.
Requirements:
- Original bill of lading
- Invoice for the goods or vehicle
- Import Declaration Form (IDF)
- Copy of Japanese logbook (for vehicles)
- PIN or ID copy of the importer
6. LPO Financing
Local Purchase Order (LPO) Financing enables businesses to access funds to service awarded LPOs or Local Service Orders (LSOs). Financing is provided quickly at competitive rates and is secured against assets like logbooks or title deeds.
Requirements:
- Original LPO, LSO, or contract
- Proforma invoice or cost breakdown
- Tangible security (e.g., logbook or title deed)
- Evidence of past similar work done
7. Salary Advance Loans
Salary advance loans offer short-term financing for employees of reputable companies. The loan is based on salary history and offers flexible repayment terms.
Requirements:
- Latest 3 months’ payslips
- Latest 6 months’ bank statements
- Post-dated cheques drawn from the salary account
8. Title Deed Loans
Title deed loans provide financing secured by property titles. This product is ideal for individuals or businesses looking to leverage their property as collateral for financing.
Requirements:
- Copy of the title deed
- Valuation report for the property
- Legal charge over the property
9. Weekend Loans
For emergencies or urgent personal expenses over weekends, Citizens Credit offers fast weekend loans. Disbursed conveniently via mobile money (M-Pesa), these loans are designed for loyal customers in need of immediate financial assistance.
Requirements:
- Must be a loyal customer
- Disbursed through M-Pesa
Citizens Credit Contacts and Branches
If you’re interested in applying for any of the loan products listed above, Citizens Credit has several branches across Kenya. Here are their contact details:
- Headquarters
- Location: 11th Floor, Finance House, Loita Street, Nairobi
- Contact: +254 722 646 687
- Kiserian Branch
- Location: 1st Floor, Kamunyu House
- Contact: +254 775 133 657
- Ngong Branch
- Location: 1st Floor, Juliet Towers, Ngong Road
- Contact: +254 776 628 700
- Rongai Branch
- Location: 2nd Floor, Tymes Arcade, Magadi Road
- Contact: +254 770 375 633
Why Choose Citizens Credit Limited?
Citizens Credit is known for offering flexible and accessible financial solutions to individuals, small businesses, and entrepreneurs who may struggle to secure financing from traditional banks. Their range of loan products ensures that there is something for everyone, whether you need to cover personal expenses or finance a business opportunity.
With several strategically located branches, a straightforward application process, and a range of loan options with competitive rates, Citizens Credit makes it easy for you to access the funds you need.
Citizens Credit Limited offers a variety of loan products designed to cater to the diverse financial needs of individuals and businesses in Kenya. Whether you’re looking for a logbook loan, an LPO financing option, or a quick salary advance, Citizens Credit has a solution tailored for you. With their clear requirements, competitive charges, and accessible branch locations, securing a loan from Citizens Credit is a seamless process.
Visit any of their branches or contact them directly for more information on how to apply for a loan today!
