LOLC Kenya Microfinance Bank, formerly Key Microfinance Bank, is one of the 14 licensed deposit-taking microfinance institutions in Kenya. Operating since 2010, LOLC is committed to providing financial services to individuals, businesses, and groups. Below are the bank’s products and branch details:
LOLC Microfinance Bank Products
a) Loan Products
- Asset Finance Loan
- For motor vehicles, land, and other assets.
- Amount: Ksh 50,000–5,000,000
- Interest: 24% p.a. (Flat Rate)
- Processing Fee: 3% of the loan amount
- Eligibility: Active bank account for six months, at least one year of business experience.
- Personal Loan
- Targeted at regular income earners (salaried or rental income).
- Amount: Ksh 50,000–1,000,000
- Repayment: Up to 24 months
- Eligibility: Active bank account for six months, salaried clients must have completed probation.
- Working Capital Loan
- Short-Term, Mid-Term, and Overdraft Facilities
- Amount: Ksh 50,000–3,000,000
- Interest: 24% p.a. (Flat Rate)
- Eligibility: Active bank account for six months, proof of income, one year of business experience.
b) Savings Products
- Taratibu Savings Account
- Basic savings account.
- Opening Balance: Ksh 500
- Minimum Balance: Ksh 500
- Lil’ Angel Junior Savings Account
- Designed for children under 18 years.
- Opening Balance: Ksh 1,000
- Interest Rate: 5% p.a.
- Jipange Budget Savings Account
- Helps in planning for specific events like weddings, school fees, etc.
- Opening Balance: Ksh 5,000
- Fixed Deposit Account
- For lump-sum savings with interest.
- Minimum Deposit: Ksh 25,000
- Term: 1–12 months
- Current Account
- For personal and business clients.
- Opening Balance: Ksh 2,000 (Personal), Ksh 5,000 (Business)
- Monthly Ledger Fee: Ksh 385
List of LOLC Kenya Microfinance Bank Branches
1. Head Office
- Location: Westpark Towers, Mpesi Lane, off Muthithi Road, Nairobi
- Contact: 0733 553 555
2. Duruma Branch
- Location: TB Plaza, 2nd Floor, Duruma Road, Nyamakima
- Phone: 0757 629 781
3. Kayole Branch
- Location: Topaz Driving School Building, Kayole
- Phone: 0750 207 375
4. Maua Branch
- Location: Laichena House, Meru-Kimongoro Road
- Phone: 0737 554 557
5. Meru Branch
- Location: Tom Mboya Street, opposite G4S, Meru
- Phone: 0737 553 555
Marketing Units
- Kiambu Road Marketing Unit
- Location: First Floor, Ciata City Mall, along Kiambu Road
- Phone: 0788 289 913
- Ngong Road Marketing Unit
- Location: First Floor, Ngong Road Business Center, along Ngong Road
- Phone: 0788 585 563
For additional details or inquiries, visit the nearest branch or contact LOLC Microfinance Bank customer care.
