Umba Microfinance Bank Limited—formerly known as Daraja Microfinance Bank—is among the 14 licensed microfinance institutions regulated by the Central Bank of Kenya (CBK). The bank has positioned itself as a digital-first financial institution offering low-cost, transparent services tailored for individuals, entrepreneurs, and small businesses.
After acquiring a majority stake in Daraja Microfinance Bank in July 2022, Umba began expanding its reach by introducing inclusive financial products targeting the underbanked and unbanked segments of the Kenyan market.
The bank’s head office is located on the 2nd Floor of Timshack House, along Ngong Road, Nairobi.
Key Products Offered by Umba Microfinance Bank
1. Account Services
a) UmbaPay Business Account
This is a digital business account designed for entrepreneurs to manage collections, payments, savings, and loans in one platform.
Benefits:
- Cost-effective transactions on your till account
- Free transfers and deposits within the UmbaPay network
- Competitive interest earnings on business savings
b) Savings Accounts
Umba offers flexible savings options under two categories:
- Savings Stash: Begin saving from as little as Ksh 50
- Fixed Deposit Accounts: Minimum deposit of Ksh 5,000 with interest rates of up to 20% per annum, ideal for medium- to long-term savings
2. Loan Products
a) Logbook Loans
Need quick financing secured by your vehicle? Umba provides logbook loans of up to 70% of your car’s value, with same-day disbursement—often within 6 hours.
- Loan amounts: Up to Ksh 1,000,000
- Monthly interest: Starting from 3%
Requirements for Employed Applicants:
- Copy of logbook
- National ID and KRA PIN
- Last 3 months’ payslips and employment contract
- 6-month Mpesa and bank statements
Requirements for Business Owners:
- Valid business permit or registration
- Copy of logbook
- National ID and KRA PIN
- 6-month Mpesa and bank statements
b) Car Financing
This facility helps both salaried individuals and businesses acquire brand-new or pre-owned vehicles.
Loan Qualification for Employees:
- Proforma invoice from car dealer
- 3 recent payslips and employment contract
- National ID and KRA PIN
- 6-month Mpesa and bank statements
Loan Qualification for Business Owners:
- Business license or registration
- Proforma invoice
- National ID and KRA PIN
- 6-month Mpesa and bank statements
3. Business Solutions
Umba Microfinance Bank offers tailored business tools that enhance operational efficiency:
- Automated payroll services
- Staff management tools
- Instant bulk payments
These services are ideal for SMEs and growing businesses looking to streamline financial operations.
Umba Microfinance Bank Branch in Kenya
Head Office
- Location: Timshack House, 2nd Floor, Dagoretti Corner, along Ngong Road, Nairobi
- Phone: 0746 555 222
- Emails: [email protected], [email protected]
READ MORE: Choice Microfinance Bank: Comprehensive Loan Products Guide
