PLEASE READ THESE TERMS AND CONDITIONS CAREFULLY BEFORE USING THIS SITE

WHO WE ARE AND HOW TO CONTACT US

The Total Cost of Credit Website is a site operated by Kenya Bankers Association (”We”). We are registered in Kenya as an Association under the Labour Relations Act and have our registered office at International Life House, Mama Ngina Street. Our main address is P.O. Box 73100 – 00200 Nairobi.

BY USING OUR SITE YOU ACCEPT THESE TERMS

By using our site, you confirm that you accept these terms of use and that you agree to comply with them.

If you do not agree to these terms, you must not use our site.

We recommend that you print a copy of these terms for future reference.

WE MAY MAKE CHANGES TO THESE TERMS

We amend these terms from time to time. Every time you wish to use our site, please check these terms to ensure you understand the terms that apply at that time.

WE MAY MAKE CHANGES TO OUR SITE

We may update and change our site from time to time [to reflect changes to our products, our users’ needs and our business priorities OR other regulatory compliance requirements. We will try to give you reasonable notice of any major changes.

WE MAY SUSPEND OR WITHDRAW OUR SITE

Our site is made available free of charge

We do not guarantee that our site, or any content on it, will always be available or be uninterrupted. We may suspend or withdraw or restrict the availability of all or any part of our site for business and operational reasons. We will try to give you reasonable notice of any suspension or withdrawal

HOW YOU MAY USE MATERIAL ON OUR SITE

We are the owner or the licensee of all intellectual property rights in our site, and in the material published on it. Those works are protected by copyright laws and treaties around the world. All such rights are reserved.

You may print off copies, and may download extracts, of any page(s) from our site for your personal use and you may draw the attention of others within your organisation to content posted on our site.

You must not modify the paper or digital copies of any materials you have printed off or downloaded in any way, and you must not use any illustrations, photographs, video or audio sequences or any graphics separately from any accompanying text.

Our status and that of the contributing banks as the authors of content on our site must always be acknowledged.

You must not use any part of the content on our site for commercial purposes without obtaining a licence to do so from us or our licensors.

DO NOT RELY ON INFORMATION ON THIS SITE

The content on our site is provided for general information only. It is intended to amount to a guide on which you may rely. You must obtain professional or specialist advice before taking any action on the basis of the content on our site.

Although we make reasonable efforts to update the information on our site, we make no representations, warranties or guarantees, whether express or implied, that the content on our site is accurate, complete or up to date.

OUR RESPONSIBILITY FOR LOSS OR DAMAGE SUFFERED BY YOU

Whether you are a consumer or a business user:

• We do not exclude or limit in any way our liability to you where it would be unlawful to do so

If you are a business user:

• We exclude all implied conditions, warranties, representations or other terms that may apply to our site or any content on it.
• We will not be liable to you for any loss or damage, whether in contract, tort (including negligence), breach of statutory duty, or otherwise, even if foreseeable, arising under or in connection with:
• • use of, or inability to use, our site; or
  • use of or reliance on any content displayed on our site
• • loss of profits, sales, business, or revenue;
  • business interruption;
  • loss of anticipated savings;
  • loss of business opportunity, goodwill or reputation; or
  • any indirect or consequential loss or damage

If you are a consumer user:

• Please note that we only provide our site for domestic and private use. You agree not to use our site for any commercial or business purposes, and we have no liability to you for any loss of profit, loss of business, business interruption, or loss of business opportunity.

WE ARE NOT RESPONSIBLE FOR VIRUSES AND YOU MUST NOT INTRODUCE THEM

We do not guarantee that our site will be secure or free from bugs or viruses.

You are responsible for configuring your information technology, computer programmes and platform to access our site. You should use your own virus protection software.

You must not misuse our site by knowingly introducing viruses, trojans, worms, logic bombs or other material that is malicious or technologically harmful. You must not attempt to gain unauthorised access to our site, the server on which our site is stored or any server, computer or database connected to our site. You must not attack our site via a denial-of-service attack or a distributed denial-of service attack. We will report any such breach to the relevant law enforcement authorities and we will co-operate with those authorities by disclosing your identity to them.

WHICH COUNTRY’S LAWS APPLY TO ANY DISPUTES?

As a consumer, please note that these terms of use, their subject matter and their formation, are governed by Kenyan law. You and we both agree that the courts of Kenya will have exclusive jurisdiction.

DISCLAIMER

The following Charges are levied by external parties and may be beyond the Bank's control.

The following Charges are levied by external parties and may be beyond the Bank's control:

Legal Fees: The amount indicated is charged by the appointed external Lawyers according to the Advocates (Remuneration) (Amendment) Order, 2014 (as varied or amended). It does not include VAT and disbursements as these will be clear after the Lawyers have completed their work.

Insurance: The amount indicated above is charged by the Insurer on the basis of the Option selected by the borrower for the period of the Facility. Insurance includes Mortgage Protection, Credit Life Insurance, Fire Insurance, Property Insurance and Car Insurance, where applicable.

Government Levies: This means Excise Duty at 10% of the Application / Processing / Initiation/ Arrangement/ Commitment Fees charged. The estimate provided in this calculator does not include VAT and other Government Levies.

Stamp Duty: This is a Government Levy on sale of property charged typically between 1% and 4% of the value of the property.

Valuation Fees: The amount indicated is charged by the appointed Valuers according to the Land Valuers Licensing (Remuneration) Notice 2013 (as varied or amended). It does not include VAT and Disbursements as these will be clear after the valuation work is complete.

Security Registration Fee:The amount is payable to the Government Registry where the Security will be registered and has not been indicated within this online APR calculator.

Other Third Party Costs: There are other costs associated with the facility that may not be within the lender's purview and therefore have not been factored into this APR calculator.

ADDITIONAL DISCLAIMER:

1. This is a loan estimate by costofcredit.co.ke which is a complementary service by Kenya Bankers Association. The estimate provided is not a loan contract and is a non-binding approximation of the cost of a bank loan in an effort to help prospective borrowers estimate loan costs. If you are interested in a bank loan, you should contact a bank directly for an official loan estimate as bank charges and fees may vary;
2. The Annual Percentage Rate (APR) is the Total Cost of Credit (TCC) annualized and may vary from time to time;
3. The external charges featured here are estimates on third party costs that are associated with the loan facility that you wish to apply for; and
4. Please contact your bank for further details on the total cost of credit for the loan you wish to apply for.