Loan Eligibility Quiz

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Questions and Answers

Which of the following is the maximum loan amount that can be borrowed?

  • Kshs. 1,000,000
  • Kshs. 500,000
  • Kshs. 5,000,000 (correct)
  • Kshs. 3,000,000

What is the minimum period of operating an active bank account required to be eligible for the loan?

  • 12 months
  • 6 months (correct)
  • 3 months
  • 9 months

What is the interest rate on the loan?

  • 24% p.a. (correct)
  • 30% p.a.
  • 18% p.a.
  • 12% p.a.

What is the maximum loan tenor?

<p>48 months (A)</p> Signup and view all the answers

What is the loan processing fee charged to the borrower?

<p>2-3% of the loan amount (A)</p> Signup and view all the answers

Which of the following is a requirement to be eligible for the Working Capital Facility?

<p>Must have operated an active bank account for at least three months (D)</p> Signup and view all the answers

What is the loan product that can be accessed on demand to cater for short term financial needs?

<p>Overdraft Facility (C)</p> Signup and view all the answers

What is the minimum loan amount that can be borrowed under the Working Capital Facility?

<p>Kshs. 50,000 (B)</p> Signup and view all the answers

What types of businesses are eligible for the Working Capital Facility?

<p>All of the above (D)</p> Signup and view all the answers

What is the maximum loan amount that can be borrowed under the Working Capital Facility?

<p>Kshs. 3,000,000 (A)</p> Signup and view all the answers

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