School Bus Scheme/Educational Institutions
Finance a new or qualifying used school bus for your educational institution with DTB. The School Bus Scheme helps eligible private and public educational institutions spread the cost of acquiring school transport with termly repayments aligned to the school calendar. Repayment periods extend up to 84 months for new school buses and up to 72 months for qualifying used vehicles, subject to credit appraisal.
Overview
Finance a new or qualifying used school bus for your educational institution with DTB. The School Bus Scheme helps eligible private and public educational institutions spread the cost of acquiring school transport with termly repayments aligned to the school calendar. Repayment periods extend up to 84 months for new school buses and up to 72 months for qualifying used vehicles, subject to credit appraisal.
What You Need to Open an Account
Prepare the following documents when applying for DTB school bus financing:
For Educational Institutions
Copies of Directors’ IDs and KRA PIN certificates.
Copy of the institution/company KRA PIN certificate.
Copy of Certificate of Incorporation.
Copy of Memorandum and Articles of Association.
Latest audited accounts where annual turnover exceeds KES 50 million. The current DTB page states this is not applicable
for amounts below KES 10 million.
Proforma invoice or asset sale agreement from the dealer or seller.
Duly completed Hire Purchase (HP) application form.
Company/institution profile, if readily available.
Copies of relevant contracts, if readily available.
Latest 12 months’ bank statements for non-DTB customers.
For Public Schools/Institutions
Copies of Directors’ IDs and KRA PIN certificates, as currently listed on the DTB page.
Copy of the institution/company KRA PIN certificate.
Copy of Certificate of Incorporation and Memorandum and Articles of Association, as currently listed on the DTB page.
Latest audited accounts where annual turnover exceeds KES 50 million. The current DTB page states this is not applicable
for amounts below KES 10 million.
Proforma invoice or asset sale agreement from the dealer or seller.
Duly completed Hire Purchase (HP) application form.
Company/institution profile and relevant contract copies, if readily available.
Current Board of Management (BOM) inauguration minutes.
Current BOM minutes approving the school bus purchase and borrowing.
Institution trial balance.
Key Features
1. New School Buses
- Up to 100% financing, subject to DTB credit appraisal and approval.
- Repayment period of up to 84 months.
- Termly loan repayments designed to align with the education sector’s revenue cycle.
- Competitive interest rates, with the final rate confirmed by DTB.
2. For Used School Buses / Vehicles
- Up to 90% financing, subject to DTB credit appraisal, valuation and approval.
- Repayment period of up to 72 months with termly repayments.
- Copy of the vehicle logbook required.
- Qualifying used vehicles should not be more than 8 years old under the published terms.
- Competitive interest rates, with the final rate confirmed by DTB.
Note
All financing is subject to DTB credit appraisal, approval, vehicle eligibility and the institution’s ability to repay.
School Bus Scheme financing is available to both DTB and non-DTB customers, subject to the published requirements.
Applicants may also enquire about DTB Insurance Premium Financing for qualifying insurance premiums.
FAQs
Answers to common questions about school bus loans, school asset finance, termly repayments, new and used school buses, eligibility and applications in Kenya.
DTB School Bus Scheme is an asset-finance solution for eligible educational institutions that want to acquire qualifying school transport without paying the full purchase price upfront. DTB currently publishes financing of up to 100% for new school buses and up to 90% for qualifying used vehicles, subject to credit appraisal and approval.
Yes. This is the core need the School Bus Scheme is designed to address. Instead of using a large amount of school cash at once, an eligible institution can apply to finance a qualifying school bus and repay over an agreed period. The approved amount, customer contribution and repayment structure depend on DTB’s appraisal.
An eligible private educational institution may apply for DTB School Bus financing. The institution should be able to demonstrate its legal status, banking history, financial position and ability to repay, and provide the vehicle quotation or sale agreement together with the required application documents.
DTB’s current product page includes a specific document list for public schools/institutions, including Board of Management minutes approving the purchase and borrowing and the institution trial balance. All applications remain subject to credit appraisal and DTB should confirm the exact documentation required for the institution type.
No. DTB states that this financing is available to both DTB and non-DTB customers. Non-DTB educational institutions should provide the applicable banking records, including the published requirement for recent bank statements.
DTB currently publishes financing of up to 100% for qualifying new school buses. “Up to 100%” is a maximum, not an automatic entitlement. The final amount depends on the vehicle, the institution’s financial position, repayment capacity and DTB credit approval.
A new school bus may qualify for financing of up to 100%, while qualifying used vehicles are currently published at up to 90% financing. Your actual customer contribution is therefore determined during appraisal and can vary by vehicle, purchase price, financial strength and approved financing percentage.
Yes, qualifying used vehicles can be considered. DTB currently publishes financing of up to 90% over up to 72 months, requires a logbook copy and states a maximum vehicle age of 8 years. A valuation and additional asset checks may also apply.
The published repayment period is up to 84 months for new school buses and up to 72 months for qualifying used vehicles. The actual tenor offered will depend on the institution’s repayment capacity, the vehicle and DTB’s credit appraisal.
Yes. DTB specifically publishes termly loan repayment for the School Bus Scheme. This can help educational institutions align repayments more closely with school-fee collection cycles. The approved repayment schedule is confirmed as part of the facility terms.
Key published requirements include Directors’ identification and PIN documents, company/institution PIN, incorporation documents, financial statements where applicable, the vehicle proforma invoice or sale agreement, a completed HP application form, an institution profile or relevant contracts where available, and recent bank statements for non-DTB customers.
DTB describes the interest rate as competitive, with the exact rate confirmed during appraisal. The current asset-finance FAQs also identify potential costs such as processing, valuation, insurance and tracking. Ask DTB for the complete cost breakdown before accepting the facility so you can compare the total cost of financing.
Financed vehicles generally require appropriate insurance under the approved facility terms. DTB also states that applicants are eligible to apply for Insurance Premium Financing, which may help spread the cost of a qualifying insurance premium. Confirm the required cover, insurer and payment terms with DTB.
DTB’s current general asset-finance FAQ gives an indicative turnaround of 48 to 72 hours where documentation is complete and up to one week for corporate cases. Educational institutions should treat this as indicative only because approval time depends on document completeness, valuation, credit assessment and transaction complexity.
Compare the maximum financing percentage, required deposit, repayment tenor, whether repayments can be termly, financing for new versus used buses, maximum vehicle age, interest-rate basis, processing and valuation costs, insurance requirements, early-settlement terms and application requirements. DTB’s published strengths include up to 100% financing for new school buses, up to 90% for qualifying used vehicles, termly repayments and repayment periods of up to 84 months for new school buses, subject to credit approval.
