DTB Logbook Loan
The DTB Logbook Loan allows customers to borrow funds from the Bank through equity release, using select vehicles or construction equipment they already own as collateral.
This financing can be used to support or start a business, or to meet personal and social needs such as education, home improvement, medical expenses, or other requirements.
To qualify, the logbook must be registered in the borrower’s name.
Overview
The DTB Logbook Loan allows customers to borrow funds from the Bank through equity release, using select vehicles or construction equipment they already own as collateral.
This financing can be used to support or start a business, or to meet personal and social needs such as education, home improvement, medical expenses, or other requirements.
To qualify, the logbook must be registered in the borrower’s name.
What You Need to Open an Account
The requirements are as follows:
Logbook loan features
Secure financing using your vehicle logbook
Up to 80% financing of the vehicles’ value.
Minimum Kshs. Khs. 300,000.00.
Maximum Kshs 10,000,000 (Amounts above available under other Bank products)
Fast approval process
Flexible repayment options for up to 60 months
Competitive Interest rates and pricing.
Terms are dependent on Ability, Vehicle Type, Age and Market Value.
Requirements for Individuals
Loan Application Form duly completed.
Copy of ID & PIN
Vehicle Logbook copy
Certified bank statements (8–24 months depending on sector) for external accounts and mobile money statements.
Employment verification for salaried customers- Pay slips, employment letter & certified account statements.
Requirements for Corporates
Copy of certificate for Incorporation/Registration & PIN
Copy of directors’ ID and PIN certificates
Copy of Latest CR12
Copy of Memorandum and Articles of Association/Constitution
Vehicle logbook copy
FAQs
- A logbook loan is a credit facility secured against a vehicle, where the borrower’s logbook is jointly registered with the bank until the loan is repaid.
- The funds may be used for Capital expenditure, Working capita or personal needs.
- Individuals or businesses with ability and clear credit history/ CRB reports.
- Businesses operating for at least 2 years
- Employees under check-off schemes, corporate guarantees, or salary commitment to DTB.
- Owns an eligible vehicle free of encumbrance, and logbook should be in the applicant’s name.
- Private and commercial vehicles of common make.
- Construction Equipment.
No PSVs, Equipment, or electric vehicles.
- Minimum amount is Kshs 300K
- Maximum amount is Kshs 10M
- Between 3- and 5-years loan tenor, depending on type and age of the vehicle.
- Monthly, quarterly, termly, or structured payments aligned to customer income cycles.
- 2% of the loan amount payable upfront.
- 2% of the new money for top ups.
- Interest rate as per the Risk Based Pricing Model.
- Joint registration on the logbook (customer and the Bank).
- Comprehensive insurance.
- Moveable Property Security Rights Instrument (MPSR).
- Tracking devices.
- Directors guarantees and resolution for limited companies.
- Completed loan application form.
- Full KYC documents (ID, KRA PIN, contacts).
- Vehicle logbook copy.
- Certified bank statements (8–24 months depending on customer type).
- Employment letter & latest 3 months’ pay slips (for salaried customers).
- Import papers & duty receipts (for imported vehicles with one owner).
- The loan is based on the vehicle’s valuation report (market value vs loan amount), subject to DTB’s Loan-to-Value (LTV) ratio and credit assessment criteria.
- Loan application/approval should be in 48 hours.
- Once all documents are submitted and NTSA in-charge registration is finalized, disbursement typically occurs within 24 hours.
- The original logbook is held by the bank, and the vehicle is jointly registered with DTB until the loan is fully repaid. For vehicles still within the age limit, you can borrow again.
- At least 50% of the loan tenor has elapsed, or 50% of the amount is repaid.
- No defaults exceeding 30 days in the last 12 months.
- Vehicle is re-valued and insurance/tracking updated.
- Comprehensive insurance from a DTB-approved underwriter, with DTB noted as financier. Insurance must be renewed annually.
- DTB closely monitors repayments and portfolio performance. Insurance and tracking must remain valid throughout the loan tenor.
- The bank shall repossess the vehicle, as it is the collateral for the loan. Customers are encouraged to maintain timely repayments to avoid penalties or repossession, while engaging the bank in case of any challenges.
Note
N/B All applications are handled on merit and are subject to credit Appraisal, while terms and conditions apply.
Contact: 📧 [email protected] 📞 0719031888 📞0732121888
