This is a list of U&I Microfinance Bank loan products and contacts. U&I began as a credit-only financial services provider in 2007, before the Central Bank of Kenya awarded it a license to operate as a deposit-taking microfinance institution on April 8, 2013.
The bank’s headquarters are on the first floor of the Asili Complex on River Road in Nairobi. They have two locations: Gikomba and Thika.
This article discusses the U&I Microfinance loan products, highlighting loan requirements and features.
U&I Microfinance Bank Loan Products
1. Fasta Fasta Loan
This is an Imports clearing loan that is approved within 24 hours. This financing assists entrepreneurs in clearing their products at the port.
Features
- One-month repayment period
- Financing of up to 70% of the collateral/security’s value
- Interest rates are low.
Requirements
- Landing Bill
- National ID card copy
- Passport photo
- KRA pin copy
- Show that you have the ability to repay the loan.
- Excellent credit history from past loans (if any) is required.
- Bank statements from U&I
2. Planner Loan
This lending product assists you in realizing your dreams as quickly as feasible. It is open to self-employed, employed, and contract workers.
Requirements
- Completed the U&I Loan application form
- 6 months’ copy of Bank statements in their original form
- National ID card
- Passport photo
- KRA pin replica
3. Asset Finance
Asset finance enables firms to acquire the equipment they require to expand. This financing product is available to acquire land, automobiles, trucks, buses, pickup trucks, or taxis.
Features
Financing of up to 80% on new automobiles and 70% on used vehicles is available.
Land financing of up to 50%
A repayment period of up to 36 months is possible.
Individuals are qualified depending on their ability to repay the loan.
Security includes assets.
Requirements
- Filled in 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 option is available to existing U&I clients to help with school tuition.
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 previous loans (if any)
- Copy of national ID card
- Passport photo
- KRA Pin copy
- School fees structure
Read, List of Mwananchi Credit Loan Products In Kenya
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
