Loop is a neobank under the umbrella of NCBA. It is one of the few neobanks in Kenya, alongside Branch and Fingo Africa (under Ecobank). Below is a comprehensive table detailing NCBA Loop’s services and their associated charges:
Service | Details | Fee (KES) |
---|---|---|
Card Services | ||
Physical Card | Issuance | 360 |
Virtual Card | Issuance | 120 |
Physical Card Replacement | 360 | |
Virtual Card Replacement | 120 | |
Card Payments | ||
Point of Sale (POS) | International Transaction Markup Fee | 5% |
ATM Withdrawals | ||
InterSwitch Network | 86.25 | |
KenSwitch Network | 57.50 | |
NCBA ATMs | 34.50 | |
VISA ATMs (Local & International) | 287.50 | |
Loop to Loop Transfers | ||
50 – 500 | 0 | |
501 – 1,000 | 5.75 | |
1,001 – 5,000 | 11.50 | |
Above 5,000 | 34.50 | |
Loop to Mobile Money Transfers | ||
50 – 100 | 0 | |
101 – 500 | 5.75 | |
501 – 1,000 | 11.50 | |
1,001 – 1,500 | 17.25 | |
1,501 – 2,500 | 28.75 | |
2,501 – 3,500 | 33.50 | |
Above 3,500 | 46 | |
Loop to Bank via PesaLink | ||
50 – 100 | 0 | |
Above 500 | 57.50 | |
Cash Deposits | ||
Branch Deposit | Free | |
Deposit via Linked Card | 57.50 | |
Cash Withdrawals | ||
Branch Withdrawal < 40,000 | 402.50 | |
Branch Withdrawal ≥ 40,000 | Free | |
Bill Payments | ||
Loop to Loop In-Store Till/QR | Free | |
Loop to Loop Billers | 34.50 | |
Loop to Mobile Money/Till (Buy Goods) | Free | |
Bank Transfers | ||
Loop to Bank via RTGS | 57.50 | |
Loop to Bank via EFT | 57.50 | |
Investment Services | ||
Loop to Goals Account | Free | |
Loop to Loop Invest | Free | |
Loop Invest – Break Option | From 70% of CBR Rate | |
Loop Invest – No Break Option | From 70% of CBR Rate | |
Loan Services | ||
Loop Overdraft | Facility Fee: 2% of Disbursed Amount Insurance: 0.7% of Disbursed Amount Excise Duty: 20% of Facility Fee Interest Rate: 16.7% p.a. (Risk-Based Lending) | |
Loop Loan | Facility Fee: 2% of Disbursed Amount Insurance: 0.7% of Disbursed Amount Excise Duty: 20% of Facility Fee Interest Rate: 16.7% p.a. (Risk-Based Lending) | |
Statements | ||
e-Statement | Free | |
Printed Statement (≤ 6 months) | Per Page | 105 |
Printed Statement (> 6 months) | Per Page | 210 |
Duplicate Statements | Per Page | 100 |
Certifying Statements | Per Page (Max 3,000) | 36 |