HomeBUSINESSBest Logbook Loan Providers in Kenya 2022

Best Logbook Loan Providers in Kenya 2022

Hey, are you searching for logbook loans in Kenya today? We’ve done our research & here is the complete list of logbook lenders in Kenya in 2021.

Let’s get begun.

Where can I get logbook loans in Kenya?

Here is a list of the most suitable logbook loans in Kenya:

Platinum Limited

Anyone who holds a private, commercial, or passenger service car. You can secure Loans against more than one motor vehicle simultaneously.

Platinum limited loans application Requirements

Precise copy of the original ID.
Certified Bank statement for at least last 6 months.
Get a copy of the KRA Pin.
One current color passport-sized photographs
Initial Vehicle Logbook
Valid Complete Insurance cover.
Certificate of Incorporation or registration. (For Business proprietors only)

Confidential checkbook.

Latest three months pay slips (only for Salaried Employees)
Employment card or employment contract note (For Salaried Employees Only)
The repayment period varies from 1 to 12 months.
There are no penalties for paying your financial liability before the end of your contract term.
Minimum loan KES. 50,000
Maximum loan amount: KES. 2,000,000

Samchi Credit

This Samchi loan allows you to get cash using your vehicle as security.
Samchi credit also permits third-party logbooks with written consent from the owner.
Once the loan is expended, the logbook is kept by Samchi Credit Limited and is transmitted back upon repayment of the loan.
The scope of the loan amount that you can borrow is from Kshs.50 000/ Kshs. 1,000,000.
FinCredit permits you to pledge your car as protection for a loan of up to 12 months.
This facility often finances 50 % of the value of the vehicle. This is, however, subject to valuation and ideal of security.


Copy of ID for Kenyan’s & valid passport for non-citizens
Get a copy of the PIN
Replication of Utility Bill
Certified Payslips (three months)
Certified Bank Statements (six mths)
Signed chattels mortgage paper
Valuation of the issue car by a reputable valuer such as AA of Kenya

Momentum Credit

Rate Credit logbook loans are secured loans against the borrower’s car.
The credit structure lends up to Ksh. 5,000,000 in 24 hours. They lend eup to 50% of the car’s value.


3 Months Payslip (for employees only)
six Months Bank & Mpesa Statement
Initial logbook
A copy of National ID
A copy of KRA PIN
Proof of Residency
Motor Vehicle Valuation Report
Proof of Complete Insurance
1 Passport Photo
Motor Vehicle Tracking Certificate

Why Log Book Loans?

These days, if you require some extra cash for an crisis, there are many options to look into. This indicates that you can access some money by leveraging your vehicle logbook as protection.

The logbook loans in Kenya are guaranteed against the value of your car; you can use the loan to either extend a business, tackle into a new business, or even an crisis that needs immediate mitigation.
This kind of loans is subject to a loan review process. Once approved, the loan is usually expended within 24 hours or more, depending on the institution.
I, however, advise you only to suppose a logbook loan in Kenya if you have been declined access to credits elsewhere.

How do I get a logbook loans in Kenya?

It is important to understand that you need to know how this kind of loan works before handing over your logbook. If you do not maintain up with repayments, then they could assume your vehicle away.
Before you can be given a loan, one of the requirements would be rather to transfer the car license to the lender. Once you have successfully paid off the loan, they will move the property back to you.
If you fail to compensate your loan on time, they will vend off your car to recoup the loan interest plus the principal.
The loan amount involved depends on a few things; these contain the age of the car, the portion of money you make, the mileage on the vehicle, and the general state of the car. This will also decide the amount of money you must pay monthly.
In Kenya, interest rates on logbook loans can be high compared to mainstream finance.
On the other hand, the loans come with more subordinate interest rates compared to different types of loans, even for individuals with bad credit, such as payday loans.
Logbook loans generally offer repayment periods between 12 to 36 months, which is much more extended than you get with a payday loan. Plus, it delivers more time to get your finances in order.

What do I need to get a logbook loan?

You will be directed to hand over your logbook or registration copies of the car to verify ownership as part of the loan process.
The lender, by right, will execute a check on your vehicle to make sure that the value provided is indeed the correct one and that it’s complimentary from other financial commitments. The lender will also want to verify the ownership of the vehicle.
Personal attributes will be requested as part of the process; this contains your financial information, e.g., income, regular expense, etc. also, your physical address may be needed.
The lender also does a credit review and a study of loan affordability. This is done to confirm that you can make payments.
Depending on the various lenders, the process can be finished in as little as one hour & the cash transferred within 24 hours.



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