Consumer Banking
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FAQs
UNSECURED LOANS
What are the requirements of applying for an unsecured loan with SCB? - The requirements are
What is your current interest rate for the unsecured loans? - The current rate is 18% but again this is a variable rate and is dependent on the market rate.
Do you do balance transfers for unsecured loans? - Yes we do balance transfers meaning that we pay off a loan that you have with another bank or Sacco.
How long does it take for a loan to be approved? - Once your loan application is received at the loan centre it takes 48hours for you to receive a call advising you on the status of the loan application. The status could be a delay for some reasons or a final decision such as approved or declined.
What is the tenor for unsecured lending? - The tenor ranges from 6 months to 60 months depending capability to pay.
Do I have to have an account with you to apply for a credit facility? - No, you don’t have to have an account with us to apply for a loan. You can pay off the loan though the deduction at source arrangement where your employer pays the bank directly once the deduction is done from your payslip.
Why do you charge 5% on early clearance on loans? - The bank has solicited this money elsewhere and they usually pay interest for the whole tenor hence the commission
Does you bank offer credit cards? - At the moment we only have debit cards but you could apply for a facility that operates just like a credit card and that is the overdraft.
What is the current interest rate for the overdraft facility? - The current rate is 16.75% per annum.
What is the tenor for an overdraft facility? - The tenor is one year and it expires after one year but you have an option of renewing it.
For more information, call 3293000 or visit a branch near you.
What are the requirements of applying for an unsecured loan with SCB? - The requirements are
- minimum salary Kshs. 20,000
- if not banking with SCB, six months salary a/c statements
- employers introduction letter
- latest payslip
What is your current interest rate for the unsecured loans? - The current rate is 18% but again this is a variable rate and is dependent on the market rate.
Do you do balance transfers for unsecured loans? - Yes we do balance transfers meaning that we pay off a loan that you have with another bank or Sacco.
How long does it take for a loan to be approved? - Once your loan application is received at the loan centre it takes 48hours for you to receive a call advising you on the status of the loan application. The status could be a delay for some reasons or a final decision such as approved or declined.
What is the tenor for unsecured lending? - The tenor ranges from 6 months to 60 months depending capability to pay.
Do I have to have an account with you to apply for a credit facility? - No, you don’t have to have an account with us to apply for a loan. You can pay off the loan though the deduction at source arrangement where your employer pays the bank directly once the deduction is done from your payslip.
Why do you charge 5% on early clearance on loans? - The bank has solicited this money elsewhere and they usually pay interest for the whole tenor hence the commission
Does you bank offer credit cards? - At the moment we only have debit cards but you could apply for a facility that operates just like a credit card and that is the overdraft.
What is the current interest rate for the overdraft facility? - The current rate is 16.75% per annum.
What is the tenor for an overdraft facility? - The tenor is one year and it expires after one year but you have an option of renewing it.
For more information, call 3293000 or visit a branch near you.
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