⚠️ Important Notice
By applying for a loan with Stawi Finance, you agree to all terms and conditions outlined below. Please read them carefully before proceeding with your application.
1. Application Process
All loan applications require a one-time activation fee of Ksh 300. This fee is required to process your application and activate your membership account with Stawi Finance.
2. Credit Assessment Policy
🔒 No CRB Record Check
Stawi Finance does not conduct Credit Reference Bureau (CRB) checks as part of our loan application process. Our assessment is based on the information you provide in your application and our internal evaluation criteria.
3. Fee Refund Policy
💰 Activation Fee (Ksh 300)
NON-REFUNDABLE in the following cases:
- Application denial due to false information provided
- Application denial due to fake or fraudulent documents
- Application denial due to incomplete information
- Application denial due to failure to meet our internal criteria
- Voluntary withdrawal of application after submission
Refundable only if: We are unable to process your application due to technical issues on our end or system failures.
🛡️ Security Fee (10% for loans above Ksh 10,000)
FULLY REFUNDABLE under the following conditions:
- Successfully complete your loan repayment in full
- Make all payments on time as per the repayment schedule
- Maintain good standing throughout the loan period
- No defaults or late payments recorded
The security fee will be refunded within 7 business days after your final loan payment is processed and confirmed.
4. Loan Eligibility
- Must be 18 years or older with valid identification
- Must have a valid Kenyan ID or passport
- Must provide accurate personal and financial information
- Must have an active mobile money or bank account in Kenya
- Must have a consistent source of income
5. Interest Rates & Fees
- Monthly interest rate: 8% on reducing balance
- Activation fee: Ksh 300 (one-time, non-refundable in most cases)
- Security fee: 10% of loan amount (for loans above Ksh 10,000, refundable)
- Late payment penalty: 1% per day on overdue amount
- No hidden charges or additional processing fees
6. Repayment Terms
- Minimum loan amount: Ksh 3,000
- Maximum loan amount: Ksh 500,000
- Repayment periods: 1 to 24 months
- Monthly repayment schedule provided upon approval
- Early repayment is allowed without penalties
7. Default Consequences
Failure to repay your loan according to the agreed schedule may result in:
- Accumulation of additional interest and late payment fees
- Loss of security fee refund eligibility
- Suspension of future loan eligibility with Stawi Finance
- Legal action for recovery of outstanding funds
- Reporting to credit bureaus which may affect your credit score
8. Privacy Policy
We respect your privacy and protect your personal information. All data provided is used solely for loan processing and will not be shared with third parties without your consent, except as required by law or regulatory authorities.
We implement security measures to protect your data from unauthorized access, alteration, or disclosure.
9. Contact Information
For any questions about these terms or your loan application, contact us:
- Email: info@stawifinance.com
- Phone: 0700 000 000
- WhatsApp: +254 700 000 000
- Address: Nairobi, Kenya
- Business Hours: Monday - Friday, 8:00 AM - 5:00 PM
10. Agreement
By submitting your loan application and paying the activation fee, you acknowledge that you have read, understood, and agree to be bound by these Terms and Conditions.
Stawi Finance reserves the right to modify these terms at any time. Continued use of our services after changes constitutes acceptance of the modified terms.
Last updated: December 2023