Tuesday, May 25, 2021

How to get ksh 1 Million Instant Cash Loan

    May 25, 2021   No comments

 

Ksh 1 million

Where can I get ksh 1 million instant loan in Kenya? Which lenders can give kes 1 million fast loans in Nairobi? What security is best for ksh 1 Million loan?


If you're looking for a loan ,I mean a decent amount, then ksh 1 million is the right value. With this you can do alot. You can start the next big thing in the Kenyan business arena. In short this is the amount everyone is dreaming of owning before life ends. 


Read ; How to get kes 5000 instant cash loan

In Kenya, lenders rarely give such a high amount to many of the borrowers. This is because in many cases, lenders ask for a decent security which most borrowers do not have. 


How to get kes 1,000,000 secured loan fast

Although some lenders for example commercial banks like Equity Bank, KCB,Co-opbank can give kes 1 million unsecured loans, majority of the lenders ,in this case the Credit-Only microfinance companies which are known for quick loans will ask for security. 


Popular non-deposit taking microfinance institutions for example Mwananchi Credit, Platinum Credit, Progressive Credit, Premier Credit, Ngao Credit  will ask for collateral for such an amount as ksh 1,000,000.


Now, how can you get that 1 million shillings fast? The people who can easily get a loan amount up to ksh 1,000,000 must posses either a logbook or a title deed. 

Logbooks and land title deeds are the most common high value security items most of the fast cash lenders prefer. 


The secured loan is usually a percentage of the current market value of the vehicle or land whose document have been presented.


Most of the lenders give up to 60% of the value of the vehicle or land.  In this case a vehicle or land valued at kes 2 million can get the borrower a maximum of ksh 1.2 million as loan. After document verification, this loan can be disbursed in less than 6 hours for most of the Credit-Only companies. 

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Mwabaya Katana

About Mwabaya Katana

Mwabaya is an experienced and talented finance content creator based in Kenya. He is the Founder of Loans Kenya Blog.

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