OTP can be received while out of the country if your mobile number is on roaming service. Any charges will be borne by the customer.
Note: If you change your SIM Card while outside the country, the OTP will not be received thus you cannot proceed to successfully submit your Mfukoni transaction.
Please resubmit the transaction to trigger a new OTP. In case you still do not receive OTP, please dial *456*9*5*3# to check if SBM bank is listed under blocked sender with the Mobile Network Operator. If listed, please enable SMS from SBM Bank to be able to receive OTP. Please reach out to our Contact Centre for assistance as per details below.
New: To activate the email OTP function: Login to Mfukoni, go to Quick Links > Settings >Enable E-Mail OTP >Enter PIN. This option will come in handy when you are not receiving SMS OTP.
Login and immediately change the PIN as you contact the bank for further assistance.
Note: SBM Bank Kenya will only send an OTP to your registered mobile number upon entry of your correct user ID and PIN. The OTP is a way of informing the customer of account access. Therefore, ensure to keep your username and password confidential at all times. Your PIN is your secret.
For further assistance, please reach out to our SBM Bank Contact Center.
It is a loan financed with the property being financed serving as the security or collateral backing the money that is lent by the Bank/Financial Institution. In the SBMK Mortgage loan product, you can buy a readily complete home, refinance your existing Mortgage, purchase a plot to Build or Move your existing mortgage balance to us, all at competitive interest rates and on reducing balance!
There are several types of Mortgage Loans such as Straight purchase of a finished house/home, Construction Mortgage also known as “buy and build” (i.e. we buy the land and help you build a complete unit in it), Equity Release where we lend funds against the Forced Sale Value vis-à-vis the outstanding loan balance
At SBM Bank, you can qualify for a Mortgage as shown below: -
The general requirements are as shown below;
In addition, specific Mortgage types have different requirements as below: -
For Straight Home Purchase Applications
For Home Equity Applications (Borrowing Against an existing developed property)
To Construction Finance applications
The minimum amount one can borrow is Kes. 2,000,000/- while the maximum amount depends on the income of the customer. The maximum repayment period is 20 years or retirement age, whichever is earlier.
There is a one off facility fees (processing fees) payment of 1 % of the loan amount. You will also pay credit life protection fees. If you do not pay the loan instalments in line with the agreed contractual terms then you may also incur default interest on any arrears. The rate and fees that apply to individual loans are fully disclosed in the Total Cost of Credit (TCC) form before signing the loan contract.
It is a fee that covers the applicant against any calamity whereby should injury or sickness occur resulting in death or permanent disability, the outstanding loan will be paid up in full by the bank.