This is a check-off facility targeted at salaried clientele.

It’s both short and long term advance and mostly for development purposes but can also be used to cater for short term needs such as school fees.

Features

• Maximum loan amount of KES. 3,000,000.00
• A maximum tenor of 72 months
• Mode of repayment is check-off from your employer on a monthly basis
• Negotiated interest rates

Benefits

• The  driving  factor/unique selling point  of  this  type  of loan product  is  that it  leverages  the  underlying value of  the  said  asset as the main source of  security for  the  loan. This is achieved by way of bank ownership over the asset financed.

KES. 500,000.00 – 1,500,000.00

Requirements

• An active account held at Sidian Bank (not less than three months).
• 6 months of statements from your previous bank
• Operational Till/ Paybill number
• Transfer of NHIF and insurance proceeds (For hospitals).
• 3% Facility Fees
• 1.5% annual renewal fees

Collateral

• Chattels mortgage over business assets.
• 75% MCF guarantee.

Loan Limit: KES. 1,500,000.00-5,000,000.00

Requirements

• An active account held at Sidian Bank(not less than three months )
• 6 months of statements from your previous bank
• Operational Till/ Paybill number
• Transfer of NHIF and insurance proceeds (For hospitals).
• 3% Facility Fees
• 1.5% annual renewal fees

Collateral

• Chattels mortgage over business assets
• 75% MCF guarantee

Loan Limit: KES. 5,000,000.00 -35,000,000.00

Requirements

• An active account held at Sidian Bank(not less than three months )
• 6 months of statements from your previous bank
• Operational Till/ Paybill number
• Transfer of NHIF and insurance proceeds (For hospitals).
• 3% Facility Fees
• 1.5% annual renewal fees

Collateral

• 50% MCF guarantee.
• 100% conventional security.
• Negotiable based on client banking and loan repayment history with the bank.

Loan Limits: KES. 35,000,000.00 – 250,000,000.00

Requirement

1. An active account held at Sidian Bank (not less than nine months )
2. 12 months of statements from the previous bank
3. Operational Till/ Paybill number
4. Transfer of NHIF and insurance proceeds
5. 3% Facility fees
6. 1.5% annual renewal fees

Collateral

1. 50% MCF guarantee.
2. 100% conventional security.

Bank to finance 80% of invoices payable by NHIF/ insurance Company/ Reputable organizations

Requirements

• A statement of previous payments from NHIF (not less than six months)
• Proof of Transfer of NHIF and insurance proceeds. (For hospitals)
• 3% Facility fees for the entire period
• 1% renewal fees per new drawdown within the 12 months
• The active account held at Sidian Bank (not less than six months

Collateral

• Chattels mortgage over business assets and machine to be bought.
• MCF guarantee based on the amount requested
• Letter of undertaking from NHIF and/or Insurance Companies/ Reputable organizations whose invoices are being discounted to transfer all proceeds to clients account held at Sidian Bank

Up to KES. 5,000,000.00

Features

• Up to 80% financing
• Client contribution of 20% to be held by the bank throughout the process of purchase
• Operational Till/Paybill number.
• An active account held at Sidian Bank (not less than six months)
• 12 months of statements from the previous bank
• Transfer of NHIF and insurance proceeds. (for hospitals)
• 3% Facility Fees
• 1.5% annual renewal fees

Collateral

• Chattels mortgage over business assets and machine to be bought.
• MCF guarantee based on the amount requested
• Debenture on the asset being financed

Target Customer

• Customer to maintain an active account with the bank for at least six months.
• Serviced their previous loans without default.
• Maximum repayment obligation of Net Household Income (NHI).

Collateral

• 30% cash collateral prior to application and disbursement.
• The customer must maintain an active account with the bank.
• Amounts above KES. 800,000.00 shall be secured using cash collateral, fully charged log books and title deeds.
•  Stock hypothecation supported by all risk insurance with the bank as a 1st loss payee to the extent of the borrowing. (Done by Sidian Insurance Agency)

Loan Tenor

• Maximum 24 months.

Loan Amount

• Minimum of KES. 20,000.00
• Maximum of KES. 3,000,000.00

Loan Disbursement

• Loan instalments to be booked on a weekly or monthly basis as per the client’s request.

Pricing

• Interest at the prevailing market currently at 13%
• Appraisal and disbursement fees at 3% and KES. 1,000.00 chattels registration.