Ngao Credit Limited is a non-deposit Microfinance institution that was established with the primary objective of providing financial services to the underserved. One of their outstanding financial services is the Ngao Credit Logbook Loan.
They take pride in providing one-of-a-kind, tailor-made financial solutions that meet their client’s demands in the shortest period and open doors for SMEs and business owners.
Their products include Logbook Loans, Jijenge business loans, asset finance, import finance, and insurance premium finance.
Their core values include
- Efficiency and Effectiveness
- Teamwork
- Honesty
- Integrity
- Creativity and Innovation
- Social Responsibility
This article will guide you on accessing the Ngao Credit Logbook loan, highlighting the loan terms and repayment procedure.
How to Access Ngao Credit Logbook Loan
A logbook loan is a sort of loan that provides short-term borrowing against one’s personal/private motor vehicle.
Customers can borrow up to 60% of the car’s worth, ranging from Ksh. 100,000 to Ksh. 5,000,000. The loan amount will be determined by the make and value of the vehicle, as well as the year of manufacture.
Loan processing takes only 6 hours.
We provide the most reasonable monthly interest rates of about 3.5% with a repayment duration of 24 months.
Requirements for Ngao Credit Logbook Loan
- Original Vehicle logbook, Original PIN, and ID
- Latest 12 months’ bank statements
- Comprehensive Car Insurance
- Post-dated cheques
- Comprehensive Insurance
Borrowers can borrow up to 60% of the vehicle’s worth, with a minimum of Ksh. 100,000 and a maximum of Ksh. 5,000,000.
The loan is open to any Kenyan citizen with a legitimate source of income and a registered logbook. The car must be between the years of 2004 and 2006.
Fees for processing and chattels are taken from the loan. Monthly tracking charges are included in the loan.
Ngao Credit provides a payback duration of up to 24 months.
How to apply
- Visit the Ngao Credit Website
- Navigate to the ‘Our Products’ page
- Select Logbook Loan
- Click Apply Now
- Fill in the form and wait for a response from Ngao Credit
- You will be notified whether you qualify for a loan through email