FAQs

Q: DO YOU LEND TO BUSINESS PEOPLE, INDIVIDUALS OR GROUPS?
A: We lend to individuals; civil servants, employees of certain private companies and business people but  not to groups

Q: IS PLATINUM CREDIT A DEPOSIT TAKING BANK/ HOW CAN I BECOME A MEMBER?
A: Platinum Credit is not a Deposit Taking organisation. We don’t take deposits. We only lend money.

Q: WHAT IS YOUR INTEREST RATE PER ANNUM?
A: We have flexible rates of interest which are dependent on the duration you choose for your loan.

Q: CAN ONE USE LOG BOOKS/TITLE DEEDS TO SECURE A LOAN?
A: Yes you can use your Log book to get a loan from us but not title deeds.

Q: HOW LONG DOES IT TAKE TO PROCESS AND PAY A LOAN?
A: We take a maximum of 24hrs provided that you have availed all the documents required.

Q: WHAT’S THE LOAN DURATION?
A: The maximum loan duration is 60 months.

Q: WHAT’S THE MAXIMUM AMOUNT OF LOAN THAT CAN BE BORROWED?
A: You can borrow up to Kshs. 2 000 000/=

Q: WHO IS PLATINUM CREDIT LTD?
A: Platinum Credit Limited is an International Credit Micro-Finance Company licensed in Kenya under the Company’s Act. Platinum Credit, was founded in 2003 with a vision to provide emergency loans to Civil Servants, TSC members and employees of selected companies. We have now diversified our product range and offer loans against logbooks to the general public. We deliver these funds in just 24hours!

Q: WHO OWNS PLATINUM CREDIT LTD?
A: Platinum Credit Ltd. is owned 45% by Centum Investment Ltd and also by International Investors from South Africa as well as Kenyan Investors

Q: WHICH ARM OF THE GOVERNMENT REGULATES PLATINUM CREDIT?
A: We are regulated by the Treasury

Q: HOW DIFFERENT ARE YOU FROM OTHER LENDERS?
A: We are not just another lender, we are there when you need emergency and other financial help. We avail the cash to you within 24 hours without requiring guarantors or deposits

Q: WHY DON’T YOU GIVE LOANS FOR EXAMPLE AGAINST THE STOCK IN SOMEONE’S SHOP?
A: We don’t have this product at the moment

Q:  GETTING A LOAN IN 24 HOURS IS TOO GOOD TO BE TRUE, UNLESS YOU ARE CONMEN!
A: Apply for a loan today and you will be pleasantly surprised, we have built a solid reputation in Kenya, Uganda and Tanzania for the last 13 years on delivering on our promise of 24 hours!

Q: HOW SOON CAN I GET THE LOAN?
A: You will get your loan within 24 hours once you have met all the requirements

Q: HOW ARE YOU GOING TO PAY ME?
A: We can draw a cheque in your name,  send you via Electronic Funds Transfer (EFT), pay you via Posta Pay or Mpesa

Q: HOW DO YOU COME UP WITH YOUR INTEREST RATES?
A: Our interest rates are determined by the benefits you get such as: we do not require you to get guarantors or keep any deposit with us.

Q: HOW DO YOU RAISE MONEY TO LEND?
A: We raise money to lend from the individual investors plus the profits are returned to the business

Q: IS INTEREST ON A REDUCING BALANCE? 
A: No, interest is not on reducing balance. It is fixed

Q: DO YOU OFFSET LOANS FROM OTHER INSTITUTIONS?
A: Yes we do

Q: WHAT IS UNIQUE ABOUT PLATINUM CREDIT  /  WHY SHOULD I CHOOSE PLATINUM CREDIT OVER OTHER LENDERS?   
A:

  1. Very Fast Payout time (within 24 hours)
  2. You can access some loans without Collateral (Security)
  3. Flexible Repayment Periods (Up to 60 months loans)
  4. Top up, Refinancing and Loan Buy-Off facilities
  5. No early loan settlement fees- you can offset at any time with no penalties