In these Terms and Conditions, unless the context requires otherwise:

a) “Borrower” means you, the payroll loan applicant;
b) “Employer” means the Borrower’s employer with details as provided during the loan application process;
c) “Lender” means Izwe Loans Kenya Limited, a limited liability company incorporated under the laws of Kenya.


1. The Borrower hereby declares and agrees that:
a. the information supplied to the Lender during the loan application process is true and correct and original and authentic documentation has been provided in support of the loan application;
b. the Lender may contact any third party to verify the information supplied by the Borrower and obtain any information which the Lender, at its sole discretion, may require;
c. the monthly instalments to be repaid by the Borrower will be deducted from the Borrower’s salary by his/her Employer and paid over to the Lender;
d. the Borrower may not cancel or rescind the monthly instalment deduction until the loan facility has been repaid in full;
e. should the Borrower’s employment with the Employer be terminated for any reason during the duration of the loan facility, the Borrower will provide details of his/her new employer or the status of employment to the Lender in writing within 7 (seven) days of such change in employment;
f. the Borrower’s obligations in terms of these Terms and Conditions will become binding immediately on disbursement of the loan and, if the Borrower has elected for the loan to be paid into the Borrower’s nominated bank account (“Bank Account”), the Borrower agrees that he/she cannot hold the Lender liable for any loss or damage arising from payment of the loan into the Bank Account or whatever disbursement method chosen by the Lender;
g. there are no reasons or financial obligations in his/her current circumstance which would cause him/her to default on the loan facility repayments;
h. The Borrower has considered the monthly instalment amount repayable and he/she confirms that he/she has sufficient means to support him/herself and his/her dependents after meeting all of his/her debt obligations;
i. he/she will sign all such documents and do all such things necessary to authorise the deductions against his/her salary as specified herein.
2. The Borrower gives consent to the Lender to:

a. report the details of any fraudulent activities concluded or attempted in relation to this loan facility to the relevant authorities;
b. assess the Borrower’s credit score, including but not limited to obtaining a credit report from any licensed credit reference bureau;
c. approach the Borrower’s current or future employer(s) to confirm his/her employment details, salary payment date and/or bank account details at any time;
d. process the Borrower’s personal information for purposes of these Terms and Conditions, which includes amongst others, creating an account, transacting via applicable channels, sharing the Borrower’s information with the Employer where required, making promotional offers available to the Borrower, marketing purposes and complying with applicable laws;
e. cede or assign, without the Borrower’s notice or consent, all or any portion of its rights in terms of these Terms and Conditions to any party that the Lender may nominate at its sole discretion;
f. provide or forward information about this loan facility and/or disclose confidential information about the Borrower in the event that: (a) the Lender is legally compelled to do so; (b) the Lender is required to do so in enforcing its rights in terms of these Terms and Conditions; and/or (c) the Borrower has requested and/or consented to it.


3. The Borrower will owe the Lender the full loan amount immediately upon disbursement of the loan, which shall be repaid by the Borrower in monthly instalment amounts over the agreed loan facility tenor, inclusive of interest, fees and charges as reflected in the Repayment Schedule by means of deduction from the Borrower’s salary by his/her Employer and payment over to the Lender.
4. The Borrower understands and acknowledges that the payroll deduction is merely an administrative mechanism and that:
a. in the event that the Employer fails to make the agreed deductions from the Borrower’s salary and/or pay same over to the Lender, the Borrower is still liable to pay the Lender any outstanding amount;
b. it remains the Borrower’s responsibility to ensure that all monthly instalments  are paid to the Lender on the due date and in the event that the Employer does not deduct the monthly instalment and/or pay it across to the Lender will not constitute a valid defence against non-payment;
c. in the event that the monthly instalment is not received by the Lender for whatever reason, the Borrower shall be required to make payment of the amount via an alternative method such as cash, EFT or MPESA payment; and
d. any fee, charge or deduction levied by the Employer for administering the payroll deduction is for the Borrower’s account and, as such, the Lender may recoup any such fees or deductions by way of debit/standing order or alternative collection mechanism, as the case may be.
5. The Borrower may contact any of the Lender’s branches to request the Repayment Schedule should he/she not have a copy of same.
6. Should the Borrower fail to pay any monthly instalment by the due date, the arrears amounts will be lodged as a further deduction from the Borrowers’ salary provided there is sufficient affordability.
7. Further, should the Borrower fail to pay any monthly instalment by the due date, the repayment term may be increased at the sole discretion of the Lender to recover any arrears amounts, in which event arrears interest and all applicable charges, fees and interest shall be payable by the Borrower for the duration of the extended term of the loan facility.
8. Repayments will be used to settle any legal and collection costs first and thereafter be applied to reducing or settling any interest on arrears and then the applicable interest, fees and charges due, and lastly to reduce or settle the principal loan.
9. Payments made by the Borrower in cash or otherwise to any account or person other than a designated teller in a Lender’s branch shall not constitute payment for the purposes of these Terms and Conditions. The Lender will not be liable for funds handed over to members of its staff outside its operating hours or premises.
10. Depending on when the loan is disbursed and the Employer’s deadline for submission of the deduction by the Lender, the first instalment will be due on the soonest salary date from submission and subsequent instalments will be due before the end of the month thereafter.


11. The loan facility interest rate shall be dependent on the tenor of the loan facility as outlined in the Interest Rate Chart.
12. The interest rate applicable to the Borrower’s loan facility will be stipulated on the Repayment Schedule, capitalised monthly over the repayment period and debited on the last day of each month, thus being calculated in arrears.
13. Should the Borrower fail to pay any amount by the due date and/or should the Lender grant the Borrower an extension for repayment, interest calculated at the original tenor of the loan facility as stipulated in the Repayment Schedule will be charged on such unpaid amounts in the same manner as contemplated in this “Interest” clause as arrears interest and any interest charged on such unpaid amount(s) shall be due and payable by the Borrower.
14. The Lender may at its discretion revise the rate of interest applied to the loan facility upon providing the requisite notice required by law and advise the additional interest or interest amount reduction (as the case may be) that would be applied to the loan facility.


15. The Borrower is entitled to settle the full outstanding balance on the loan facility earlier than the agreed tenor stipulated in the Repayment Schedule, which payment shall include the full unpaid loan balance, applicable interest, fees and charges to the date of settlement.
16. Should the Borrower wish to change the agreed loan facility tenor by early settlement, the loan facility interest rate shall be adjusted in line with the prevailing rates as outlined in the Interest Rate Chart in accordance with the adjusted tenor of the loan at early settlement.
17. The Borrower shall complete an early settlement form should he/she wish to settle his/her loan facility early in which event the Lender will provide the Borrower with a settlement quotation reflecting the balance outstanding based on the adjusted interest rate.
18. The outstanding balance under the settlement quotation provided to the Borrower by the Lender will serve as proof of the balance owed by the Borrower for all purposes including legal action.
19. Should the Borrower wish to change the tenor of the loan facility by shortening it albeit without full settlement or lengthen the tenor, the Borrower shall furnish the Lender with a written request for approval by the Lender in which event the Lender shall issue a notice to the Borrower in accordance with clause 15 outlining the adjusted interest rate applicable to the new tenor.

20. In the event of default in payment the Borrower shall be liable to pay the arrears interest as provided for in clause 13 above.
21. The Lender shall be entitled to terminate the loan facility with immediate effect, in which event the whole unpaid loan balance together with all accrued charges, fees and arrears interest shall, at the Lender’s option, become immediately due and payable.
22. The Borrower consents that the Lender may vary the monthly instalment amount to be deducted from his/her salary and/or extend the number of deductions in the event of additional amounts becoming due.
23. Under no circumstances may the Borrower withhold any repayment by reason of any alleged breach, counterclaim or any other reason whatsoever.
24. In the event of a dispute, the Borrower shall be obliged to continue with all repayments until such time as the dispute is resolved.
25. The Lender reserves the right to recover any legal and collection costs incurred by it in the recovery of any outstanding amounts or the enforcement of any rights which it has under these Terms and Conditions.


26. These Terms and Conditions, the Interest Rate Chart and the Repayment Schedule shall constitute the whole of the agreement between the Lender and the Borrower in regard to the subject matter and any amendments must be in writing and signed by both parties. Every clause is severable. If any clause is found to be unenforceable, it shall not affect the validity or enforceability of the rest of the agreement.
27. We may change or add to these Terms and Conditions at our discretion. Unless specifically provided otherwise in these Terms and Conditions, we will give the Borrower 30 (thirty) calendar days’ notice of any material changes via electronic communication, such as sms or email, which will contain a link to the updated terms.
28. The Lender may send notices to the Borrower in writing by SMS, email or hand-delivery or by post to the last address provided by the Borrower.
29. The Borrower hereby waives any and all defences he/she may have based on the electronic form of these Terms and Conditions and the electronic acceptance hereof.
The Borrower declares that the information provided by him/her is true and correct and that he/she has read and understood the above Terms and Conditions and agrees to be bound thereby.

Do not give cash or make payment to any person other than a designated teller in an Izwe Loans branch. Payments made in cash or otherwise to any account or person other than directly to Izwe Loans will not constitute payment for the purposes of these Terms and Conditions. Izwe Loans will not be responsible for any payments made in breach of this warning.