Kachangu Overdraft Loan

The Kachangu Overdraft Loan is a fluctuating secured personal loan that allows you to access funds even when your account balance is at zero . It is designed to provide coverage for permanent or temporary financial issues, unexpected expenses, or emergency costs, giving you the comfort of knowing you will always have financial backup available .

Your overdraft limit depends on your account tier. Gold Current Account customers can access up to 50% of their net salary, while Platinum Current Account customers enjoy a higher limit of up to 100% of their net salary .

The Kachangu Overdraft Loan carries an interest rate based on the Bank's Reference Rate plus a Risk Margin . A processing fee of 2.5% applies, along with a Life Cover charge of 1.74% and the standard Credit Reference Bureau (CRB) fee .

To qualify for this facility, you must meet the following requirements; a salary account with NBS Bank where your salary is processed, a clean Credit Reference Bureau (CRB) report, a record of at least 3 salary transactions in the system, a valid National ID, And a Workplace Banking Memorandum of Understanding (MOU) between NBS and your employer

The Kachangu Overdraft Loan offers instant disbursement of funds with a minimum processing time of less than 10 minutes . You can apply conveniently from home, office, or anywhere, 24 hours a day, 7 days a week, with zero paperwork required .

This is a secured personal loan . Unlike the standard Kachangu Personal Loan which is unsecured, the overdraft facility requires security backing, which aligns with its purpose of providing reliable financial backup for eligible salaried customers .