Home INFOMATIVE Consolidated Bank Kenya Loans, How to apply for the loans, interest rates

Consolidated Bank Kenya Loans, How to apply for the loans, interest rates


Consolidated Bank offers various loan products cheaply. They offer emergency loans, mortgages, LPO Financing and other credit facilities. Below we list the loans offered by the bank, interest rates and how to apply for the loan.

Asset Financing


  • Offered to purchase assets such as motor vehicles, equipment, plant and machinery
  • Second hand vehicles should not be more than 8 years’ old
  • Second hand machinery should not exceed 5 years of age
  • The Bank finances up to 80% of the price for new motor vehicles and up to a maximum of 95% of the price for school buses. For second hand and imported vehicles the Bank finances up to 70% of the value or price whichever is lower.
  • Interest is between 8% and 12% per year

Business Term Loans

This loan product can be used to finance working capital and expenses of capital nature e.g. premises, machinery, motor vehicles etc within the SME sector. This loan comes with interest of 10% to 16% per year.


  • Financing stock purchase
  • Working capital
  • Purchase of business assets
  • Bridging finance
  • Financing of operating expenses


Overdraft facilities should only be offered to meet working capital needs and for funding short term timing differences. They should not be offered for Capital Expenditure or where it is obvious that the funding requirements are of a long-term nature.


  • To bridge working capital requirements
  • Minimum amount of Kshs. 500,000


  • The overdraft shall be available for a period of 12 months

Overdraft attracts higher interest. Consolidated bank interest rate is 12% to 18% per year.

LPO /LSO Financing

You want to supply goods but don’t have money to buy them. Consolidated bank will provide LPO Financing. They finance up to 60% of the cost of the LPO.


  • The facility shall be available for a maximum period of 6 months, subject to the contract period.

Invoice and Bills Discounting

This facility is available for discounting of invoices from reputable organizations. Reputable organizations will be those that have been pre-vetted by the Bank and established as ‘reputable’. The facility is repayable in 60 days. The Bank shall discount up to a maximum of 60% of the invoice amount and the customer must have banked with the Bank for a period of 6 months to qualify. Customers accessing the facility for the first time must provide security and any financing of amounts more than Kshs. 500,000 must be adequately secured.


  • The facility shall be available for a maximum period of 6 months, subject to the contract period.

Bank Guarantees

The Bank on behalf of Customers issues these to third parties as a form of surety. These are availed in the form of Guarantees to Suppliers, Bid Bonds, Performance Bonds and Advance payment guarantees. Usually availed for a maximum period of 12 months and must be reviewed and renewed at the end of the period. Open ended guarantees will be avoided except where guarantees are in favour of government departments/quasi government entities provided it is supported by underlying contracts or performance and is not expected to exceed 2 years. Such will be reviewed annually to establish customer’s continued ability to perform obligations guaranteed

Bid bonds are low risk in nature and the Bank at any one time may advance unsecured bid bonds aggregating to a maximum of Kshs. 1,000,000 to SME Customers and Kshs. 5,000,000 to corporate Customers based on account conduct and evidence of capacity to perform the obligations guaranteed. All other guarantees apart from bid bonds should be fully secured.


  • The facility shall be available for a maximum period of 12 months

Letters of Credit

These are availed to support Customers to import goods or services. Such Customers must demonstrate that they have capacity to pay the facility when it matures from their resources or an existing overdraft/loan facility. Commissions on LCs will be based on the Bank’s tariff and any concessions must be approved at the requisite level.

Personal Loans

Personal loans will only be extended to employees whose employers are reputable institutions of good standing and/ or where the bank has check off facilities with the employe.


  • To meet personal expenses such as medical, school fees, and purchase of household goods. This facility is available to employees of companies who have an MOU with the Bank and for repeat Customers who have borrowed before and have a good credit history.


  • Maximum unsecured personal loans for MOU Customers – Kshs. 4 million and for non MOU Customers at Kshs. 3 million


  • The loan repayment period will be 60 months (subject to the retirement age/ contract period) for non MOU/Check off loans and 84 months or longer depending on the terms of the MOU between the Bank and the employer.

 Emergency loans

  • Employer should have an MOU with the Bank and hold an irrevocable authority to remit the employee’s salary to the Bank
  • The applicant’s salary should have passed through CBKL account for a minimum 3 months
  • Maximum advance will be equivalent to HALF of the average net pay for the last 3 months that has passed through the Bank
  • Minimum amount is Kshs. 3,000 while maximum amount is Kshs. 50,000
  • Loan to be recovered within one month’s time with the next salary


This is a product designed to service the needs of Customers who may wish to:

  • purchase or construct a residential or commercial property
  • purchase a plot
  • Equity release
  • Project finance


Landed property secured by a mortgage or charge:
Nairobi Properties 80% of OMV
City (Mombasa, Kisumu) Properties 75% of OMV
Major County Headquarters (Nakuru, Eldoret, Nyeri, Meru, Machakos, Kericho, Thika) 70% of OMV
All Other County Headquarters and Major towns 60% of OMV
Rural Market Properties 55% of OMV
Commercial Agricultural Properties 50% of OMV
Rural Agricultural Properties 45% of OMV
Lease hold properties, must have a remaining lease period of at least 25 years at loan maturity.


  • Repayment period of a residential property will be up to a maximum of 15 years, for commercial property will be 10 years and for plot loans 5 years.
  • For construction mortgages, the Bank will grant a moratorium as discussed and agreed with the Customer


Multi Development Loan

Build-to-Sell Residential/Commercial Properties


This is a loan for developments (either for commercial or residential use) for sale to the final owners upon completion. The construction loan under this approach is tailored to be disbursed alongside project implementation mainly upon presentation of certificates of works completed. During the construction period, only the interest is payable. The principal loan amount disbursed shall not be payable during the construction period.


  • The maximum tenor will be 24 months with a moratorium during construction.

Build-to-Rent-Residential/Commercial Properties


This loan is available for developers to construct a commercial building for own use or multiple units for rental income. Similarly, as in the case of built-to-sale, the loan is structured such that principal repayment falls due upon start of commercial operations i.e. completion and occupation of the lettable space/residential units over a specified and agreed period. The construction loan is converted upon start of commercial operations into a mortgage and is repayable on the applicable terms.


  • Repayment period of up to ten (10) years with a moratorium during construction.


Insurance Premium Financing

This product is designed to assist our Customers pay for their insurance premiums. The Bank understands the strain that may be caused by paying for insurance premiums in lump sum. To address this need, our Customers can now pay their premiums in monthly instalments at very affordable rates.


  • Easy application process
  • Very Competitive pricing.
  • Quick response to applications
  • No hidden charges
  • Payments are made directly to the insurance company so as to ensure the insurance cover is issued immediately
  • Flexible repayment of 4-10 equal monthly instalments

General Requirements

  • Duly completed Loan Application Form
  • Introduction letter from employer for salaried Customers
  • National ID of the Customer/ Company Directors
  • One recent Passport photograph of the Customer/ Company Directors
  • Business Registration Certificate/Certificate of Incorporation/ Partnership Deed
  • Memorandum & Articles of Association
  • For limited companies, board resolution to borrow
  • Copy of KRA PIN certificate
  • Proof of income – Payslips for the last three months for salaried Customers, audited accounts for the last three years for limited companies
  • Cash flow projections for limited companies
  • Bank statements for the last six months
  • Sale Agreement of the property being purchased plus a copy of the title for mortgages
  • Approved building plans for construction mortgages
  • Sale agreement for second hand motor vehicles/Proforma invoice from the motor dealer for new vehicles.

Business Loans & Overdrafts

The loan is granted to help a business to grow or sustain their business. Usually, these loans are granted for capital expenditure and working capital.


  • Flexible repayment period
  • Quick approval process
  • Low interest rates


  • Company profile- To include ownership structure and percentage shareholding.
  • Business profile- A brief description of the business and commentary of the key members of management and their relevant experience.
  • Cash flow projections
  • Bank statements for the last 6 months

Commercial Construction Loan

The commercial construction loan is designed to help customers build multiple or single units for sale or rental purposes. As with our other loans, Consolidated Bank offers attractive interest rates and a moratorium period on capital during the construction period.


  • Period of the loan
    • >> Buy to sell units- 24 months
    • >> Units for Rent- 10 years
  • Attractive interest rates
  • Moratorium period on capital during the construction period


  • Proper documentary identification (Identity Card or Passport).
  • One (1) recent colored passport size photo.
  • Introductory letter from the employer/ account holder/ utility bill.

Insuarance Financing

This product is designed to take the burden of insurance payments of our customers. It allows our customers to enjoy the benefit of insurance cover immediately, while they pay their premiums over a longer period.

Benefits of the product

Easy application process

  • Very Competitive pricing
  • Quick response to applications
  • No hidden charges
  • Payments are made directly to the insurance company so as to ensure the insurance cover is issued immediately
  • Flexible repayment of 4-10 equal monthly installments
  • No security needed
  • Eases up the liquidity strain that may be caused by lumpsum insurance premium payments

How does the Product work?

The bank will advance you a loan which you will pay in monthly installments and pay the premiums directly to your insurance company.

To apply for the loans,visit any Consolidated Bank branch. You can also make the application through the bank’s website. Visit the website, click on products, go to loans and apply for the selected loan.

Every weekday:8 am to 4 pm

Every Saturday:8.30 am to 1pm

In case you wish to contact Consolidated Bank Kenya, use the following details:

Consolidated Bank House
23 Koinange Street
P. O. Box 51133 – 00200, Nairobi
Cell: 0703 016 000/100
Head Office Opening & Closing Time
Monday to Friday : 8.30am to 4.00pm
Saturday : 8:30am to 1:00pm

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