Victoria Commercial Bank Loans, Eligibility & Rates

Victoria Commercial Bank (VCB), a Kenyan financial institution, offers various loans tailored for personal and business needs, with rates typically ranging from 15-21% based on recent reports. This article details key products, eligibility criteria, and rates as of early 2026, starting with an overview table.

Rates are indicative from CBK-monitored reports; actual terms require bank confirmation due to market fluctuations.

1. Personal Unsecured Loan (Up to 1 Year)

This short-term loan suits emergency needs like medical bills or school fees, with repayment up to 12 months. Eligibility demands Kenyan citizenship or residency, age 21-65, and proof of income via payslips or bank statements showing at least KSh 15,000 monthly. Rates hover at 19.75-20.75%, with no collateral needed but a strong CRB credit rating essential; approval takes 2-5 days.

2. Personal Unsecured Loan (Up to 5 Years)

Ideal for medium-term goals such as weddings or debt consolidation, this product offers flexibility up to 60 months without security. Applicants must hold a VCB salary account for 3+ months, earn KSh 20,000+, and pass affordability checks (debt service ratio <40%). While specific rates are N/A in reports, expect 18-22% effective rates; features include free redraws post-partial payments.

3. Personal Unsecured Loan (Up to 6 Years)

Targeting higher earners needing extended terms, this unsecured option covers up to 72 months for investments or renovations. Requirements include self-employment proof (KRAs, bank flows for 6 months), minimum turnover KSh 50,000 monthly, and no active defaults. Rates remain undisclosed publicly (N/A), but align with CBR at 16-20%; top-up options available for loyal customers.

4. Personal Unsecured Loan (Up to 10 Years)

For substantial personal financing like education abroad, this longest unsecured tenor spans 120 months.[web>41] Eligibility favors professionals with KSh 50,000+ salary, 12-month VCB relationship, and guarantors if income irregular. N/A rates suggest negotiation-based pricing around 17-21%; includes grace periods up to 6 months.

5. Personal Secured Loan (Up to 10 Years)

Asset-backed for lower risk, this loan uses logbooks, title deeds, or shares as collateral, funding up to KSh 20 million over 10 years. Borrowers need basic income verification (KSh 15,000 min.), clean CRB, and asset valuation approval. Rates at 19.75% make it cheaper than unsecured; ideal for vehicle purchases or expansions, with flexible balloon payments.

6. Mortgage (1-5 Years)

Short-term home financing for buyouts or top-ups, with tenors up to 5 years and LTV up to 80%. Eligibility: Salaried Kenyans aged 25-60, stable job (NHIF/NSSF proof), 10-20% deposit, and property legal search. Rates range 15.25-20.75%, competitive for urban buyers; includes bridging finance options.

7. Business/Commercial Loan

VCB's lending arm supports SMEs with growth capital, asset finance, or working capital up to KSh 500 million. Requirements: CAC registration, 12-24 months trading history, audited accounts, and collateral (machinery/property). Rates 16-20% variable per CBR+spread; tailored for Nairobi traders, with invoice discounting add-ons.

Eligibility Essentials

Across products, VCB prioritizes CRB clearance (no listings >90 days), KYC documents (ID, PIN), and income stability. Salary loans favor direct depositors; self-employed submit BR returns. Minimum age 21, max 70 at maturity; women/youth get priority under CBK guidelines. Affordability assessed via debt burden <50% net income.

Rate Structures

Loans use reducing balance, with EIR including 4-6% fees (appraisal, legal). CBR pegged at 12.5% in 2026 influences bases; secured cheaper by 2-4%. Fixed vs variable options; early settlement penalties 2-4% first year. Compare via CBK portal for transparency.

Application Process

Visit VCB branches (Nairobi, branches) or apply online via portal. Submit docs, get pre-approval in 48 hours, valuation/approval 7-14 days. Digital tracking via app; disbursal to account same day post-signing.

Tips for Approval

Boost chances with 6-month VCB history, low debt ratios, and bundled insurance. Negotiate for salary-backed lower rates; monitor promotions via site. For Nairobi businesses, leverage local ties for faster processing