FAQs

Logbook Loans

Where Can I Get Quick Logbook Loans In Kenya?

Ngao Credit offers logbook loans across Kenya with branches in all major towns; Nairobi, Mombasa, Nakuru, Kisumu, Kitengela, Thika, Meru and Eldoret.

What Is Your Repayment Period?

We have a monthly repayment plan of up to 24 months, you can choose your preferred period. That is, you can choose to repay the loan within a period of one to 24 months.

How Do Logbook Loans Work?

Logbook loans are loans secured against your car logbook. You get a loan of up to 60% the value of your car. For logbook loans you will still be using your car as you pay back the loan.

How long does it take to process the loan?

It only takes 6 hours provided that you have availed all the required documents. (ID, copy of logbook, KRA Pin, bank Statements)

Do you offer motorbike logbook loans?

No! For now, Ngao Credit only offers car logbook loans.

What is your interest rate?

We have flexible interest rates dependent on the product you choose. Refer to products and the calculator on this website.

What is your minimum & Maximum loan amount?

Our minimum loan amount is KES 100,000 and a maximum of KES 4, 000,000.

How do I know if I will qualify for a loan?

At Ngao Credit we offer secure loans against car logbooks. To qualify you MUST have a car as security for the loan

Do logbook loans require Credit checks?

To get a logbook loan, CRB checks are not required.

How can I complete a logbook loan application?

The quickest way to apply is to fill an online application form or fill a request a callback form on the Ngao Credit website. One of our agents will call you to initiate the loan process.

How quickly can I receive the loan?

Often the same day. Once the application is completed, the money will be transferred to your bank.

How can I make logbook loan repayments?

You can pay back your logbook loan via Mpesa

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Logbook

How much can I borrow?

You can borrow up to 70% of the value of the vehicle with a minimum amount of KES 100,000 and a maximum of KES 4,000,000.

Who is eligible for a car Logbook Loan?

A Kenyan citizen with a legal source of income and a registered logbook.

Is there a limit to the age of the car?

Yes. Your car should not be older than 2004 for Toyota and not older than 15 years for other models (T&Cs Apply).

What are the other charges for this loan?

There are additional processing fees and chattel fees, which are deducted from the loan. Monthly car tracking charges are also capitalized as part of the loan.

What is the repayment period for logbook loan?

We offer flexible repayment period of up to 24 months.

What is your interest rate on logbook loans?

We offer affordable interest rates as low as 3.5%.

What if I have a recent valuation from an independent valuer?

According to our terms and conditions Ngao only accepts valuation report from its trusted valuation partner Tracking Hub Limited

Do you do loan buyoffs?

Yes, Ngao Credit offers loan buyoff services for all car related loans.

What if I cant repay my loan on time?

We understand that financial challenges are unplanned. If facing a challenge with your loan repayment, please reach out to your Relationship Officer on time.

Car Finance

What is your interest rate on car loans?

Our interest rates vary and are competitive, for both New and Used Cars, currently one of the best on the market. Ask our consultants about the current rate.

Who is eligible for a car Loan?

A Kenyan citizen with a legal source of income and a registered logbook of the car you want to purchase.

How long does it take for a loan to be approved?

Once your loan application is received it will only take 24 hours for the loan to be processed and approved.

What are the other charges for this loan?

There are additional processing fees and chattel fees, which are deducted from the loan. Monthly car tracking charges are also capitalized as part of the loan.

Do I need to install a tracking device in the car?

Yes, you will need to install a car-tracking device on the car. This will help in tracking the car in the event that it is stolen.

Do I need to register the car in your (Ngao) name?

The car will be jointly owned and registered in your name and Ngao Credit's name. Once the loan has been repaid, the we will facilitate transfer of the vehicle to you.

Must the car have a comprehensive Insurance?

Yes, the car should have a comprehensive cover. For a seamless experience and convenience, the bank requires all its financed assets to be insured through our trusted partner Lucent Insurance Brokers.

Can one pay off an asset finance loan in full before the loan tenor is over?

Yes. A customer can pay off their loan at any time before the loan tenor is over and become legible to apply for a new loan.

Do you buy-off asset finance loan from other financial institutions?

Yes. The application process is the same as would be for a normal asset finance loan request. The borrower will in addition provide loan statements from the current borrowing financial institution.