This is a loan facility offered to salaried employees of various corporate entities. 

Terms & Conditions

• The employee should fill in a formal application

• The employee should provide an irrevocable letter of instruction to his/her employer to remit a total monthly credit amount to his K-Rep Bank account.

• The employee should have an account with K-Rep Bank through which repayment shall be channeled by the employer every month.This account could be used for other savings which will not be tied to the loan.

• The employee should provide a letter from his employer confirming that the funds requested will be transferred to his/her account in K-Rep Bank every month.

Benefits

• The employee will be able to roll over the loan when they have repaid it halfway.

• The employee has an option of off-setting the balance outstanding against the savings mobilized so long as the loan balance amount outstanding is equal or higher than the savings amount held.

• The employee can prepay the loan without penalty charge levy.

Requirements

• 2 coloured passport size photos  
• Copy of ID card
• KShs 1,000.00 (Savings account)
• KShs 2,000.00 (Current account)