Sidian Bank is a leading financial institution in Kenya that provides a wide range of financial products and services to its customers. The bank offers various types of accounts and loans to meet the diverse needs of its clients.
In this guide, we will explore the different types of accounts and loans offered by Sidian Bank.
Sidian Bank’s Accounts Types:
Current Account
Sidian Bank’s current account is designed for individuals, businesses, and organizations that require frequent banking transactions. The account offers a range of features such as checkbooks, debit cards, and overdraft facilities.
Customers can access their accounts online or through mobile banking, making it easy to manage their finances.
Savings Account
Sidian Bank’s savings account is a great way to save money and earn interest on your savings. The account offers competitive interest rates and no monthly fees, making it an ideal option for individuals and families who want to save for the future.
Fixed Deposit Account
Sidian Bank’s fixed deposit account allows you to earn higher interest rates on your savings by depositing a lump sum amount for a fixed period.
The account offers flexible tenure options ranging from 1 month to 12 months, allowing you to choose the best option that suits your financial needs.
Business Account
Sidian Bank’s business account is designed for small and medium-sized enterprises (SMEs) that require banking services to manage their business finances.
The account offers features such as checkbooks, overdraft facilities, and merchant services, making it easy for businesses to transact with their suppliers and customers.
Diaspora Account
Sidian Bank’s diaspora account is designed for Kenyans living abroad who want to invest in Kenya. The account offers features such as foreign currency accounts, money transfers, and investment options, making it easy for Kenyans in the diaspora to invest in their home country.
Sidian Loan Types and Application:
Personal Loans
Sidian Bank’s personal loans are designed to help individuals meet their financial needs. The loans offer flexible repayment options and competitive interest rates, making it easy for individuals to access credit when they need it.
The bank offers unsecured personal loans of up to Ksh. 4 million, which can be repaid over a period of up to 60 months.
Business Loans
Sidian Bank’s business loans are designed to help small and medium-sized enterprises (SMEs) grow their businesses. The loans offer flexible repayment options and competitive interest rates, making it easy for businesses to access credit when they need it.
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The bank offers both secured and unsecured business loans of up to Ksh. 20 million, which can be repaid over a period of up to 60 months.
Asset Finance
Sidian Bank’s asset finance is designed to help individuals and businesses purchase assets such as vehicles, machinery, and equipment.
The financing offers flexible repayment options and competitive interest rates, making it easy for individuals and businesses to acquire the assets they need to grow their businesses.
The bank offers both secured and unsecured asset finance of up to Ksh. 20 million, which can be repaid over a period of up to 60 months.
Mortgages
Sidian Bank’s mortgages are designed to help individuals purchase their dream homes. The mortgages offer flexible repayment options and competitive interest rates, making it easy for individuals to access financing to purchase a home.
The bank offers mortgages of up to Ksh. 50 million, which can be repaid over a period of up to 20 years.
Invoice Discounting
Sidian Bank’s invoice discounting is designed to help businesses manage their cash flow by providing them with immediate access to funds that are tied up in their invoices.
The financing offers flexible repayment options and competitive interest rates, making it easy for businesses to access credit.
Trade Finance
Sidian Bank’s trade finance is designed to help businesses finance their import and export transactions. The financing offers competitive interest rates and flexible repayment options, making it easy for businesses to access credit when they need it. The bank offers a range of trade finance solutions such as letters of credit, guarantees, and import/export finance.
Overdraft Facilities
Sidian Bank’s overdraft facilities are designed to help individuals and businesses manage their cash flow by providing them with immediate access to funds when their account balance is low. The facilities offer flexible repayment options and competitive interest rates, making it easy for customers to access credit when they need it.
Agricultural Loans
Sidian Bank’s agricultural loans are designed to help farmers and agribusinesses finance their operations. The loans offer flexible repayment options and competitive interest rates, making it easy for farmers and agribusinesses to access credit when they need it. The bank offers both short-term and long-term agricultural loans, which can be used for activities such as purchasing inputs, acquiring machinery, and expanding the farm.
Salary Advance
Sidian Bank’s salary advance is designed to help individuals meet their short-term financial needs before they receive their salary. The financing offers flexible repayment options and competitive interest rates, making it easy for individuals to access credit when they need it.
In conclusion, Sidian Bank offers a wide range of accounts and loans that cater to the diverse financial needs of its customers. Whether you are an individual, a small business owner, or a large corporation, Sidian Bank has a product that can help you achieve your financial goals.
With competitive interest rates, flexible repayment options, and excellent customer service, Sidian Bank is an excellent choice for anyone looking for a reliable and trustworthy financial institution in Kenya.
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