Personal Loan

The NBS Personal Loan is a traditional credit facility for individual customers that can be secured by either cash or real estate . Unlike the digital-first Kachangu products which are unsecured and designed for instant online access, this loan requires a more formal application process with documentation and typically involves security or collateral .

The NBS Personal Loan is a secured facility. You must provide either cash security (such as a Fixed Deposit Account) or real estate security (property) to qualify . This makes it suitable for customers who have assets to pledge and are looking for larger loan amounts or longer repayment terms.

The NBS Personal Loan offers a maximum term of 60 months (5 years) for repayment . Your loan eligibility is determined by your gross income ratio, which must not exceed 65% .

The interest rate is calculated as the Base Rate plus a Risk-Based margin . If you fail to make payments on time, a penalty interest of Base Rate + Risk-Based margin + 10% applies . Processing fees and disbursement fees also apply as per the Bank's current tariffs .

To apply for the NBS Personal Loan, you must have maintained a savings or current account with NBS Bank for at least one year. Your gross income ratio must not exceed 65 percent. You will need to provide a letter of undertaking from your employer, pay slips for the past three months, proof of residence such as a water or electricity bill, and a valid National ID.

This is a key distinction. The standard Personal Loan is a secured facility requiring cash or property collateral, a longer account history of one year, and a formal application with physical documentation. The Kachangu Personal Loan, on the other hand, is a digital, unsecured loan available to salaried customers with MOUs, offering instant online approval with zero paperwork. Choose the Personal Loan if you need a secured facility with potentially larger limits, and choose Kachangu for speed and convenience without collateral.