IPF lifts the burden of lumpsum insurance premium payment..
We propose a minimum of Kshs. 20,000/=, maximum of Kshs. 400,000/=.
The repayment period being from a minimum of two months to a maximum of ten months.
The rate is 2% per month.
Finance up to 100% of the premium amount.
Minimum repayment tenor of 2 months and a maximum of 10 months.
Repayments are via equal monthly installments (EMIs), payable through postdated cheques.
Insurance Premium Finance is a short-term loan product that allows your business to spread the cost of large annual insurance premiums. We pay the cost of your insurance in one sum directly to your insurance provider and then your business repays the cost in monthly repayments over an agreed term. We provide this service over a 3-10 month period to our customers, while our financing solutions range between KES 20,000 as the minimum and KES 400,000 maximum amount.
The IPF loan involves a tripartite agreement between the customer, the insurance company (guarantor), and Mwananchi Credit Limited (financier).