Thinking financing your education with an education loan? Now you can.

    October 05, 2014   No comments

Bank of Africa - kenya,through its Soma loan facility, is giving individuals a chance to finance their education costs or that of their relatives.This lender is provides this loan package in the form of a personal loan to its clients.
See also Masomo loan from KCB.
The soma loan and the masomo loan are very similar.Ofcourse, its because they are both altered personal loans to serve the education part of life.
SOMA LOAN.
-its open to salaried clients,self-employed and
even pensionees.
-it can be borrowed by a parent,guardian or the student in question if over 18years.
-soma loan can be for financing the costs of any level of education from primary, high school,college or university. 
-there is a flat interest rate of 15%pa
-minimum loan amount is ksh20000 and the optimal amount is ksh500000 which is slightly higher than Masomo loan from KCB.
-the loan repayment period is less than 10months which is slightly lower than Masomo loan at 24months .
WHAT'S NEEDED?
-provide a valid employment contract for employed individuals or a proof of income generation for self-employed individuals.
-provide the last payslip for employed or ooks of accounts for self-employed.
That's all. Leave a comment for any more personal help.
Good luck.  
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Mwabaya Katana

Posted By Mwabaya Katana

Mwabaya Katana is a Personal Finance online writer.He is the founder of 'Loans Kenya' Blog.

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