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Getting an insurance plan is not a matter of convenience but a requirement. As we all know, paying insurance premiums can be a huge expense. We have a solution. The KCB Insurance Premium Financing solution is a short-term loan designed to finance the payment of non-life insurance premium dues to an insurance company on your behalf with a repayment plan to fully clear the loan within ten months.

What We Need From You*

  • Signed Agreement/Application by Client, Bank and Insurance Company.
  • Signed Guarantee and Indemnity from the Insurance Company.
  • Post-dated cheques for the 10 monthly instalments.
  • Provide TIN certificate.
  • Provide Certificate of incorporation / registration.
  • Provide Memorandum and Articles of Association for incorporated entities, Provide National ID.
  • Bank statements for the last 12 months for non- borrowing customers and new customers.
  • The customer must not have a history of returned cheques in the last 6 months.
  • The customer must have a positive credit rating report – Credit reference bureau report.
  • The Business should have been in existence for at least 12 months.
  • Multinationals must hold an account with KCB Bank.

Rates and Fees

  • VA charge of 6.5% p.a for UGX and 4% p.a for USD is applied.
  • No need to have a KCBU Operational account to qualify for IPF.
  • No collateral required. You only need an Insurance Guarantee and Indemnity from the Bank’s approved insurance company providing the insurance policy as well as a Signed IPF agreement to be eligible for the program.
  • No additional fees charged. CRB fees are still applicable, only the following fees are waived; Application and Arrangement fees.
  • You can finance General Insurance policies, except for Marine and Medical Insurance for Individuals.
  • Life Assurance products are NOT financed.
  • A customer is said to be in default once an installment is past due date by one day.

Interested in Bancassurance or have a question?

I am an existing KCB Bank customer

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