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Legacy Salary Flat Loan

Product terms, pricing, eligibility, disbursement, repayment, documentation, and immutable version audit.

RET-SALARY-LEGACY / v1.9-retired

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Product header

deprecated

Code

RET-SALARY-LEGACY

Class

retail

Status

deprecated

Version

v1.9-retired

Name: Legacy Salary Flat Loan
Owner: Retail credit products
Approval route: Retired product governance
Term sheet: CBK/TS/RET-SALARY-LEGACY/2024-09

Pricing config

flat

Nominal rate

22.00%

APR

27.00%

EIR

56.57%

TCC

Ksh 10,800

13.50%

Rate bands by risk tier

Risk tier	Score range	Nominal rate %	CBK cap check
A	Legacy A	18.00%	watch
B	Legacy B	22.00%	watch
C	Legacy C	26.00%	hold
D	Legacy D	0.00%	hold

APR/TCC disclosure

Representative amount: Ksh 80,000
Representative tenor: 6 months
Total fees: Ksh 2,000
Total repayable: Ksh 90,800
Flat-to-EIR conversion: 56.57%

Fee schedule

Fee	Basis	Value	Timing	Disclosure
Legacy origination	percent	2.50%	origination	Legacy book only; no new origination.

Eligibility rules

Min/max age: 21 - 60
Employment-status: Closed to new borrowers
CRB-score-minimum: 0
Daftari-depth-minimum: Not applicable
Chama-standing: Not applicable
Geographic-restrictions: Servicing only

Disbursement config

Channel: Closed
M-Pesa B2C vs bank transfer: bank transfer
Same-day vs next-day: next-day
Settlement-bank: KCB Bank Kenya - legacy servicing 009

Repayment config

Method: flat
Day-count convention: 30/360
Grace-period: 0 days
Early-settlement-fee %: 0.00%

Documentation checklist

3 required docs

Original national IDOriginal payslipLegacy agreement

Version history

immutable audit log

Version	Effective date	Change notes	Approved by
v1.9-retired	2024-09-02	Deprecated after reducing-balance payroll product launch.	Product governance board
v1.8	2024-01-16	Closed tier D origination.	Retail credit committee