How to get a loan from the NIC Bank mobile banking service
How do I access Mobile Loans?
Dial *488# and follow the steps or access it through the NIC NOW App.
What is the minimum amount I can have in my account?
The minimum amount you can hold in your account at any given time is KES. 1000.
How do I check my loan limit?
Dial *488# or check on the NIC NOW App and choose the option “check loan limit”
What is the interest rate, applicable?
The rate is fixed at 13.5% per annum.
What are the charges involved while applying for a loan?
A processing fee of 4% subject to excise duty.
How do I repay my loan?
Dial *488# or access the NIC NOW App and choose the option “repay loan”
Can I have more than one loan at a time or can I request for a top-up?
You can only have one loan at a time. Loan top-ups do not apply.
What is the minimum Loan amount I can borrow?
The minimum you can borrow is KES. 1,000.
NIC NOW Mobile Application
The NIC NOW App is a Mobile Banking App owned by NIC Bank available on Android and IOS. The NIC NOW App has exciting features that make your banking experience with NIC Bank fast and convenient. The App can also be used by non NIC Bank customers. Enjoy the following features when you download the NIC NOW App:
- Quick balance display for accounts and credit cards
- Branch & ATM locater with banking hours information
- Fast contact to NIC Bank customer care services via telephone, email & social media (Twitter and Facebook)
- Secure payment options via RTGS and EFT
- M- PESA service that is linked to phone address book
- Latest business tools including forex rates, stock prices, currency converter and loan calculator.
- Account name customization for ease of identification
- Bill presentment and payment options for major billers and utilities
- Airtime purchase service that is linked to phone address book
- M- VISA services –Real-time Visa payments to an individual, a Merchant or an Agent
You can download the NIC NOW mobile application here