Tamika Credit offers Log Book Loans as one of our key loan products. These loans are specifically designed for individual clients who own cars and are in need of financial assistance. To apply for a Log Book Loan, clients are required to provide their car log book as collateral, which is held by Tamika Credit until the loan is fully repaid.
Our Log Book Loans are flexible and affordable, with repayment terms that are set based on the client’s needs and financial situation. Clients can choose to repay their loan in monthly installments over a period of up to 24 months. We also offer competitive interest rates on our Log Book Loans to ensure that our clients are able to access the financial assistance they need at an affordable cost.
One of the key benefits of our Log Book Loans is that clients are able to continue using their cars even while the loan is being repaid. This means that they can maintain their daily routines and continue to earn a livelihood without any disruptions. In addition, our Log Book Loans are available to clients with a wide range of credit scores, making them accessible to a broader range of individuals who may have difficulty accessing loans from traditional financial institutions.
At Tamika Credit, we are committed to providing our clients with high-quality financial solutions that are tailored to their unique needs. Our Log Book Loans are just one of the many products we offer to help individuals and small businesses achieve their financial goals and contribute to the growth and development of their communities.
Log Book Loan Requirements
- Postdated cheques
- Original logbook (strictly should bear the name of the borrower)
- A copy of the KRA pin
- A Copy of the original ID
- 12 months M-PESA statement and bank statement
- A Copy of the id of the next of kin
- Compressive Insurance Cover
- Valuation Report (Process facilitated by the company)
- Car tracker (Provided by the company)
- Passport photo size
Benefits of our Log Book Loans
- Affordable Interest Rates
- We offer interest waiver if you offset earlier
- No hidden charges
Log Book Loan Processing Period
- Minimum duration 3 months
- Maximum 18 months
Log Book Interest Rate
- Interest rates 5 % P.M
- Processing fees of 5% on the principle
- An upfront payment fee of KES 10,000 (Valuation, Tracking, NTSA process-search, incharge, and discharge)
