Buy off Loans

Buy-Off Loans

Clear existing loans and enjoy better terms with Elite Wallet.

What is a Buy-Off Loan?

A Buy-Off Loan from Elite Wallet Limited allows you to transfer your existing loan from another lender (bank, microfinance, or SACCO) to us. This helps you consolidate your debts, reduce your monthly repayment burden, and enjoy lower interest rates, longer repayment periods, or friendlier terms.

Key Features

  • Loan Takeover – Elite Wallet clears your existing loan balance directly with your current lender.

  • Better Terms – Enjoy reduced interest rates and longer repayment schedules.

  • Debt Consolidation – Merge multiple loans into one manageable monthly installment.

  • Fast Processing – Quick approval once documents are submitted.

  • Flexible Repayment – Tailored repayment plans that fit your salary or business cash flow.

  • Convenience – No stress of dealing with multiple lenders; Elite Wallet becomes your single point of repayment.

Who Qualifies?

You may be eligible if you:

  • Have an active loan with a recognized financial institution in Kenya.

  • Are a salaried employee (with an employer MOU) or a business owner with verifiable income.

  • Have a good repayment history (not negatively listed on CRB).

  • Provide required documents (loan statements, clearance letter from existing lender, ID, payslips/bank statements).

Loan Limits & Terms

  • Loan Amount: Equivalent to or higher than your outstanding balance.

  • Top-Up Option: You may qualify for an extra cash top-up after your loan is bought off.

  • Repayment Period: Up to 72 months (depending on loan size and employer/business income).

  • Interest Rate: Competitive, reducing balance method.

  • Security: May depend on the loan type (salary check-off, logbook, or other collateral).

How It Works

  1. Application – Apply for a Buy-Off Loan with Elite Wallet.

  2. Assessment – Submit your loan statement and employer/income verification documents.

  3. Settlement – Elite Wallet pays off your existing loan directly to the current lender.

  4. Consolidation – Your new loan with Elite Wallet is restructured with easier repayment terms.

  5. Top-Up (Optional) – If eligible, receive additional funds after the buy-off.

Why Choose Elite Wallet Buy-Off Loans?

  • Escape high-interest loans and enjoy affordable repayment plans.

  • Streamline your debts into one single repayment.

  • Transparent fees with no hidden charges.

  • Fast and professional support through the entire process.

  • Optional top-up gives you extra cash for urgent needs.

Responsible Borrowing

A Buy-Off Loan is a tool to help you manage debt more effectively. Ensure you understand the new loan terms and commit to timely repayments to avoid falling back into debt stress.

FAQs

Q: Can Elite Wallet buy off any type of loan?
A: Yes, we buy off personal loans, salary check-off loans, logbook loans, and other credit facilities, subject to assessment.

Q: Will I get extra money after my loan is bought off?
A: If your income supports it, you may qualify for a top-up.

Q: How long does the buy-off process take?
A: Typically 3–7 working days, depending on clearance from your existing lender.

Q: Do I need to inform my current lender?
A: Yes, but Elite Wallet will also handle formal communication and settlement on your behalf.

👉 Apply Now — Transfer your loan to Elite Wallet today and enjoy lower rates, easier repayment, and financial freedom.

 

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